Facebook’s (FB) Outperform Rating Reiterated at RBC Capital Markets
Facebook Inc. (NASDAQ:FB)‘s stock had its “outperform” rating reiterated by analysts at RBC Capital Markets in a research note issued to investors on Saturday. They currently have a $170.00 price target on the social networking company’s stock. RBC Capital Markets’ target price suggests a potential upside of 32.91% from the company’s current price.
FB has been the subject of several other reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $185.00 target price on shares of Facebook in a report on Wednesday, October 5th. Mizuho reaffirmed a “buy” rating and issued a $150.00 target price on shares of Facebook in a report on Tuesday, October 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Facebook in a report on Wednesday. Cowen and Company reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Facebook in a report on Monday, September 26th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $170.00 target price on shares of Facebook in a report on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $149.99.
Facebook (NASDAQ:FB) opened at 127.88 on Friday. The company has a market cap of $367.23 billion, a price-to-earnings ratio of 61.13 and a beta of 0.77. Facebook has a 1-year low of $89.37 and a 1-year high of $131.98. The firm’s 50-day moving average price is $128.26 and its 200-day moving average price is $120.22.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. The firm earned $6.44 billion during the quarter, compared to analyst estimates of $6 billion. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The company’s revenue for the quarter was up 59.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. Equities research analysts forecast that Facebook will post $3.94 EPS for the current fiscal year.
In other news, insider Christopher K. Cox sold 15,600 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $121.08, for a total value of $1,888,848.00. Following the sale, the insider now directly owns 388,392 shares in the company, valued at approximately $47,026,503.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Sheryl Sandberg sold 148,104 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $118.02, for a total transaction of $17,479,234.08. Following the completion of the sale, the chief operating officer now owns 4,719,188 shares in the company, valued at $556,958,567.76. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of FB. Capital World Investors increased its stake in Facebook by 41.3% in the second quarter. Capital World Investors now owns 33,131,292 shares of the social networking company’s stock worth $3,786,244,000 after buying an additional 9,686,624 shares during the period. Third Point LLC acquired a new stake in Facebook during the second quarter worth $428,550,000. Vanguard Group Inc. increased its stake in Facebook by 2.5% in the second quarter. Vanguard Group Inc. now owns 139,483,685 shares of the social networking company’s stock worth $15,940,195,000 after buying an additional 3,400,653 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Facebook during the second quarter worth $369,509,000. Finally, State Street Corp increased its stake in Facebook by 2.3% in the first quarter. State Street Corp now owns 85,825,821 shares of the social networking company’s stock worth $9,792,722,000 after buying an additional 1,950,433 shares during the period. Hedge funds and other institutional investors own 56.61% of the company’s stock.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
Receive News & Stock Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related stocks with our FREE daily email newsletter.