Facebook Inc. (FB) Given a $170.00 Price Target by Credit Suisse Group AG Analysts
Facebook Inc. (NASDAQ:FB) has been given a $170.00 target price by equities research analysts at Credit Suisse Group AG in a note issued to investors on Monday. The brokerage presently has a an “outperform” rating on the social networking company’s stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 32.22% from the stock’s previous close.
A number of other analysts have also recently issued reports on FB. Royal Bank Of Canada reissued a “buy” rating and set a $165.00 target price on shares of Facebook in a research note on Tuesday, June 21st. SunTrust Banks Inc. reissued a “buy” rating and set a $135.00 target price on shares of Facebook in a research note on Tuesday, June 21st. Robert W. Baird reissued an “outperform” rating and set a $135.00 target price on shares of Facebook in a research note on Wednesday, June 22nd. MKM Partners reissued a “buy” rating and set a $150.00 target price on shares of Facebook in a research note on Wednesday, June 22nd. Finally, Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $123.05 target price for the company in a research note on Monday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the company. Facebook has a consensus rating of “Buy” and a consensus price target of $150.30.
Facebook (NASDAQ:FB) opened at 128.57 on Monday. Facebook has a 52-week low of $89.37 and a 52-week high of $131.98. The stock has a 50 day moving average of $128.40 and a 200-day moving average of $120.48. The company has a market cap of $369.21 billion, a price-to-earnings ratio of 61.46 and a beta of 0.77.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The business earned $6.44 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the prior year, the business earned $0.50 EPS. Facebook’s revenue for the quarter was up 59.2% compared to the same quarter last year. On average, analysts forecast that Facebook will post $3.94 EPS for the current year.
In other news, VP Colin Stretch sold 400 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $125.00, for a total transaction of $50,000.00. Following the transaction, the vice president now owns 88,940 shares of the company’s stock, valued at $11,117,500. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jas Athwal sold 4,923 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $124.07, for a total value of $610,796.61. Following the transaction, the chief accounting officer now directly owns 125,394 shares in the company, valued at approximately $15,557,633.58. The disclosure for this sale can be found here. Company insiders own 19.08% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its position 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 in the last quarter. Third Point LLC purchased a new stake in shares of Facebook during the second quarter worth about $428,550,000. Vanguard Group Inc. raised its stake in shares of 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 last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Facebook during the second quarter worth about $369,509,000. Finally, State Street Corp raised its stake in shares of 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 last quarter. 56.63% of the stock is currently owned by hedge funds and other institutional investors.
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.
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