Published On: Sun, Sep 18th, 2016

Facebook Inc. (FB) Upgraded by Vetr Inc. to Buy

Facebook Inc. (NASDAQ:FB) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $136.45 price objective on the social networking company’s stock. Vetr‘s target price would indicate a potential upside of 5.72% from the stock’s previous close.
Several other equities research analysts also recently weighed in on FB. Jefferies Group reaffirmed a “buy” rating and set a $170.00 target price on shares of Facebook in a research note on Monday, August 22nd. Ladenburg Thalmann assumed coverage on shares of Facebook in a research note on Wednesday, May 25th. They set a “buy” rating on the stock. William Blair reaffirmed an “outperform” rating on shares of Facebook in a research note on Sunday, September 4th. Morgan Stanley upped their target price on shares of Facebook from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 26th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Facebook in a research note on Sunday, May 22nd. Two 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 given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $149.25.
Shares of Facebook (NASDAQ:FB) traded up 0.56% during midday trading on Monday, reaching $129.07. 24,119,174 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $125.23 and its 200 day moving average price is $117.33. Facebook has a 1-year low of $85.72 and a 1-year high of $131.98. The stock has a market capitalization of $370.65 billion, a P/E ratio of 61.70 and a beta of 0.76.

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Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, topping the 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 firm 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 business posted $0.50 EPS. The business’s revenue for the quarter was up 59.2% compared to the same quarter last year. On average, equities analysts predict that Facebook will post $3.94 earnings per share for the current fiscal year.
In other Facebook news, insider Christopher K. Cox sold 15,600 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $109.68, for a total transaction of $1,711,008.00. Following the sale, the insider now owns 391,186 shares in the company, valued at approximately $42,905,280.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David B. Fischer sold 23,625 shares of the business’s 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 sale, the vice president now owns 240,356 shares in the company, valued at approximately $27,681,800.52. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Stelac Advisory Services LLC bought a new stake in Facebook during the first quarter valued at about $106,000. Bartlett & Co. LLC increased its position in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares in the last quarter. Kings Point Capital Management increased its position in shares of Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock worth $136,000 after buying an additional 200 shares in the last quarter. Balentine LLC increased its position in shares of Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock worth $139,000 after buying an additional 1,015 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of 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 worth $140,000 after buying an additional 18 shares in the last quarter. 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.

To view Vetr’s full report, visit Vetr’s official website.

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