Facebook (NASDAQ:FB) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Facebook (NASDAQ:FB) in a research note issued on Monday, Price Targets.com reports. The firm set a “buy” rating and a $455.00 price target on the social networking company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 20.84% from the stock’s current price.

A number of other research firms have also recently commented on FB. Truist increased their target price on Facebook from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Truist Securities increased their target price on Facebook from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Raymond James increased their target price on Facebook from $415.00 to $450.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 29th. KeyCorp increased their target price on Facebook from $414.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Finally, Morgan Stanley increased their target price on Facebook from $375.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $403.98.

Facebook stock opened at $376.53 on Monday. The stock has a market cap of $1.06 trillion, a P/E ratio of 27.89, a PEG ratio of 1.19 and a beta of 1.29. Facebook has a fifty-two week low of $244.13 and a fifty-two week high of $384.33. The firm’s fifty day moving average price is $362.49 and its 200-day moving average price is $328.99.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 28th. The social networking company reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.03 by $0.58. Facebook had a net margin of 37.17% and a return on equity of 30.09%. As a group, equities research analysts forecast that Facebook will post 14.1 EPS for the current year.

In other news, VP Jennifer Newstead sold 241 shares of Facebook stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $361.94, for a total transaction of $87,227.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 77,300 shares of Facebook stock in a transaction that occurred on Monday, June 21st. The shares were sold at an average price of $331.23, for a total transaction of $25,604,079.00. The disclosure for this sale can be found here. Insiders sold 2,506,590 shares of company stock valued at $895,659,803 over the last 90 days. 14.01% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in FB. Baldrige Asset Management LLC bought a new stake in Facebook in the 2nd quarter worth approximately $31,000. Capital Directions Investment Advisors LLC bought a new stake in Facebook in the 2nd quarter worth approximately $31,000. Baron Financial Group LLC grew its position in Facebook by 71.4% in the 1st quarter. Baron Financial Group LLC now owns 120 shares of the social networking company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Lion Street Advisors LLC bought a new stake in Facebook in the 2nd quarter worth approximately $43,000. Finally, Eubel Brady & Suttman Asset Management Inc. bought a new stake in Facebook in the 2nd quarter worth approximately $45,000. 65.72% of the stock is owned by institutional investors.

Facebook Company Profile

Facebook, Inc operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online.

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Analyst Recommendations for Facebook (NASDAQ:FB)

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