Published On: Mon, Sep 19th, 2016

Facebook Inc. (FB) Price Target Raised to $180.00

Facebook Inc. (NASDAQ:FB) had its target price lifted by stock analysts at Credit Agricole SA from $161.00 to $180.00 in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the social networking company’s stock. Credit Agricole SA’s price target points to a potential upside of 39.46% from the stock’s current price.
FB has been the topic of a number of other reports. Bank of America Corp. reaffirmed a “buy” rating on shares of Facebook in a research report on Tuesday, April 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $136.00 target price on shares of Facebook in a research report on Thursday, April 7th. Wedbush reaffirmed a “buy” rating and set a $128.00 target price on shares of Facebook in a research report on Wednesday, April 20th. Monness Crespi & Hardt reaffirmed a “buy” rating on shares of Facebook in a research report on Wednesday, April 13th. Finally, Ladenburg Thalmann initiated coverage on shares of Facebook in a report on Wednesday, May 25th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the company. Facebook has an average rating of “Buy” and an average price target of $149.25.
Facebook (NASDAQ:FB) traded up 0.56% during trading on Thursday, reaching $129.07. The company had a trading volume of 24,119,174 shares. The stock has a market capitalization of $370.65 billion, a P/E ratio of 61.70 and a beta of 0.76. The stock has a 50 day moving average of $125.23 and a 200-day moving average of $117.33. Facebook has a 12-month low of $85.72 and a 12-month high of $131.98.

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Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.15. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 59.2% on a year-over-year basis. On average, analysts forecast that Facebook will post $3.94 earnings per share for the current fiscal year.
In other news, Director Susan Desmond-Hellmann sold 625 shares of Facebook stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $124.01, for a total transaction of $77,506.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sheryl Sandberg sold 109,000 shares of Facebook stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $114.19, for a total transaction of $12,446,710.00. Following the sale, the chief operating officer now owns 4,809,844 shares of the company’s stock, valued at $549,236,086.36. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Vaughan David Investments Inc. IL increased its stake in shares of Facebook by 0.6% in the second quarter. Vaughan David Investments Inc. IL now owns 2,589 shares of the social networking company’s stock worth $296,000 after buying an additional 15 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock valued at $140,000 after buying an additional 18 shares in the last quarter. Roberts Glore & Co. Inc. IL boosted its stake in Facebook by 1.2% in the second quarter. Roberts Glore & Co. Inc. IL now owns 2,044 shares of the social networking company’s stock valued at $234,000 after buying an additional 25 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in Facebook by 2.2% in the second quarter. Tortoise Investment Management LLC now owns 1,402 shares of the social networking company’s stock valued at $160,000 after buying an additional 30 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in Facebook by 0.3% in the second quarter. Brighton Jones LLC now owns 14,266 shares of the social networking company’s stock valued at $1,630,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 56.89% of the company’s stock.
About Facebook
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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