Facebook, Inc. (FB) Stock Rating Reaffirmed by Morgan Stanley
Facebook, Inc. (NASDAQ:FB)‘s stock had its “overweight” rating restated by analysts at Morgan Stanley in a research report issued on Monday. They presently have a $195.00 target price on the social networking company’s stock, up from their prior target price of $190.00. Morgan Stanley’s price objective would indicate a potential upside of 14.73% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Vetr downgraded Facebook from a “buy” rating to a “hold” rating and set a $158.93 price target for the company. in a research note on Monday, June 5th. Piper Jaffray Companies restated an “overweight” rating and issued a $165.00 price objective on shares of Facebook in a research note on Friday, June 9th. Moffett Nathanson reaffirmed a “buy” rating on shares of Facebook in a report on Friday, June 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a $185.00 price objective on shares of Facebook in a report on Monday, June 12th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $175.00 target price on shares of Facebook in a research report on Friday, June 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have given a buy rating and three have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $185.06.
Facebook (FB) opened at 169.96 on Monday. The firm’s 50-day moving average price is $169.83 and its 200 day moving average price is $156.72. The company has a market cap of $493.60 billion, a PE ratio of 38.04 and a beta of 0.70. Facebook has a 52-week low of $113.55 and a 52-week high of $175.49.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The business had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. Facebook’s revenue for the quarter was up 44.8% on a year-over-year basis. On average, equities analysts predict that Facebook will post $5.36 EPS for the current fiscal year.
In related news, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $149.93, for a total transaction of $2,398,880.00. Following the transaction, the insider now directly owns 184,965 shares of the company’s stock, valued at approximately $27,731,802.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Thiel sold 60,316 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $172.25, for a total value of $10,389,431.00. Following the completion of the sale, the director now owns 6,311 shares of the company’s stock, valued at $1,087,069.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,916,933 shares of company stock valued at $2,121,180,386. Company insiders own 19.08% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its holdings in shares of Facebook by 283.6% during the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock valued at $1,794,857,000 after buying an additional 8,788,743 shares during the last quarter. Vanguard Group Inc. lifted its position in Facebook by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares during the period. BlackRock Inc. lifted its position in Facebook by 3.0% during the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares during the period. Harbour Capital Advisors LLC lifted its position in Facebook by 15,047.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after acquiring an additional 2,523,918 shares during the period. Finally, Magellan Asset Management Ltd lifted its position in Facebook by 28.4% during the 2nd quarter. Magellan Asset Management Ltd now owns 10,686,955 shares of the social networking company’s stock worth $1,613,516,000 after acquiring an additional 2,361,166 shares during the period. 57.26% of the stock is currently owned by institutional investors.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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