Facebook Inc. (NASDAQ:FB) had its target price upped by equities researchers at Deutsche Bank AG from $160.00 to $170.00 in a report released on Thursday. The firm currently has a “buy” rating on the social networking company’s stock. Deutsche Bank AG’s price objective would indicate a potential upside of 31.71% from the stock’s current price.
A number of other equities research analysts have also issued reports on the company. Bank of America Corp. reissued a “buy” rating on shares of Facebook in a research report on Tuesday, April 12th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $136.00 target price on shares of Facebook in a research report on Thursday, April 7th. Wedbush reissued a “buy” rating and issued a $128.00 target price on shares of Facebook in a research report on Wednesday, April 20th. Monness Crespi & Hardt reissued a “buy” rating on shares of Facebook in a research report on Wednesday, April 13th. Finally, Ladenburg Thalmann began coverage on Facebook in a research report on Wednesday, May 25th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, forty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $149.25.
Facebook (NASDAQ:FB) traded up 0.56% during midday trading on Thursday, hitting $129.07. The stock had a trading volume of 24,119,174 shares. Facebook has a 1-year low of $85.72 and a 1-year high of $131.98. The firm has a 50-day moving average price of $125.23 and a 200-day moving average price of $117.33. The firm has a market capitalization of $370.65 billion, a price-to-earnings ratio of 61.70 and a beta of 0.76.
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Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.15. The company had revenue of $6.44 billion for 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%. Facebook’s revenue was up 59.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. On average, equities research analysts anticipate that Facebook will post $3.94 earnings per share for the current year.
In other news, VP David B. Fischer sold 23,625 shares of Facebook stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $115.17, for a total value of $2,720,891.25. Following the transaction, the vice president now owns 240,356 shares in the company, valued at $27,681,800.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jan Koum sold 19,534 shares of Facebook stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $115.01, for a total value of $2,246,605.34. The disclosure for this sale can be found here. 19.08% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Facebook during the fourth quarter worth about $1,674,932,000. Capital World Investors boosted 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 valued at $3,786,244,000 after buying an additional 9,686,624 shares during the last quarter. Vanguard Group Inc. boosted its stake in Facebook by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 130,370,552 shares of the social networking company’s stock valued at $13,644,583,000 after buying an additional 4,279,863 shares during the last quarter. Third Point LLC purchased a new stake in Facebook during the second quarter valued at $428,550,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Facebook during the second quarter valued at $369,509,000. Hedge funds and other institutional investors own 56.89% of the company’s stock.
Facebook Company Profile
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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