Facebook, Inc. (NASDAQ:FB) had its price objective increased by stock analysts at Cantor Fitzgerald to $220.00 in a research note issued on Thursday, November 2nd, The Fly reports. The brokerage currently has an “overweight” rating on the social networking company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 23.06% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Goldman Sachs Group, Inc. (The) set a $205.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research report on Friday, October 20th. Oppenheimer Holdings, Inc. boosted their target price on shares of Facebook from $170.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. JMP Securities reiterated an “outperform” rating and issued a $195.00 price objective (up from $170.00) on shares of Facebook in a report on Thursday, July 27th. Wedbush set a $225.00 price objective on shares of Facebook and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $174.15 price objective on the stock in a report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $197.95.
Shares of Facebook (FB) opened at $178.77 on Thursday. Facebook has a 1 year low of $113.55 and a 1 year high of $182.90. The company has a market cap of $519,470.00, a P/E ratio of 34.38, a PEG ratio of 1.14 and a beta of 0.67.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same quarter last year, the firm earned $1.09 EPS. Facebook’s quarterly revenue was up 47.3% compared to the same quarter last year. equities research analysts expect that Facebook will post 5.81 earnings per share for the current year.
In other Facebook news, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $180.27, for a total transaction of $2,884,320.00. Following the completion of the sale, the insider now directly owns 49,816 shares in the company, valued at approximately $8,980,330.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $168.25, for a total value of $126,187.50. Following the sale, the vice president now owns 96,341 shares of the company’s stock, valued at $16,209,373.25. The disclosure for this sale can be found here. Insiders sold a total of 7,843,902 shares of company stock valued at $1,362,490,758 in the last ninety days. 19.08% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in Facebook by 283.6% in the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock worth $1,794,857,000 after acquiring an additional 8,788,743 shares during the period. Vanguard Group Inc. grew its position in Facebook by 3.3% in the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares during the period. BlackRock Inc. grew its position in Facebook by 3.0% in the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares during the period. Harding Loevner LP grew its position in Facebook by 229.7% in the third quarter. Harding Loevner LP now owns 4,258,885 shares of the social networking company’s stock worth $215,130,000 after acquiring an additional 2,966,978 shares during the period. Finally, Harbour Capital Advisors LLC grew its position in Facebook by 15,047.5% in the second quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after acquiring an additional 2,523,918 shares during the period. Institutional investors and hedge funds own 57.35% of the company’s stock.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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