Facebook (FB) Trading Up 5.8% Following Analyst Upgrade
Shares of Facebook, Inc. (NASDAQ:FB) traded up 5.8% during trading on Thursday after Oppenheimer raised their price target on the stock from $195.00 to $225.00. Oppenheimer currently has an outperform rating on the stock. Facebook traded as high as $198.48 and last traded at $193.26. 53,562,053 shares traded hands during trading, an increase of 176% from the average session volume of 19,429,098 shares. The stock had previously closed at $182.58.
FB has been the topic of a number of other reports. Jefferies Financial Group boosted their price target on shares of Facebook from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. Monness Crespi & Hardt reissued a “buy” rating and issued a $250.00 price target (up from $225.00) on shares of Facebook in a report on Thursday. BidaskClub raised shares of Facebook from a “hold” rating to a “buy” rating in a report on Friday, April 5th. JMP Securities reissued an “outperform” rating and issued a $220.00 price target (up from $195.00) on shares of Facebook in a report on Thursday. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $235.00 price target (up from $211.00) on shares of Facebook in a report on Thursday. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and forty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $206.26.
In other news, insider Christopher K. Cox sold 5,300 shares of the stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $150.00, for a total value of $795,000.00. Following the sale, the insider now directly owns 58,484 shares of the company’s stock, valued at $8,772,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Susan J.S. Taylor sold 1,442 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $162.02, for a total transaction of $233,632.84. Following the completion of the sale, the chief accounting officer now directly owns 1,569 shares in the company, valued at $254,209.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,539,435 shares of company stock worth $269,965,163. Insiders own 14.53% of the company’s stock.
The stock has a market cap of $533.88 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.34 and a beta of 0.88.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.80). Facebook had a net margin of 39.60% and a return on equity of 27.51%. The business had revenue of $15.08 billion for the quarter, compared to the consensus estimate of $14.97 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. Equities analysts expect that Facebook, Inc. will post 7.55 earnings per share for the current fiscal year.
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Facebook Company Profile (NASDAQ:FB)
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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