Facebook (FB) Rating Lowered to Buy at BidaskClub

Facebook (NASDAQ:FB) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Other analysts have also recently issued research reports about the stock. Vetr upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 price objective for the company in a research report on Wednesday, January 10th. Wells Fargo & Co restated an “outperform” rating and issued a $215.00 price objective (up previously from $185.00) on shares of Facebook in a research report on Wednesday, September 27th. Royal Bank of Canada restated a “buy” rating and issued a $195.00 price objective on shares of Facebook in a research report on Friday, October 13th. Wedbush restated an “outperform” rating and issued a $230.00 price objective (up previously from $225.00) on shares of Facebook in a research report on Thursday, November 2nd. Finally, Macquarie set a $205.00 price objective on shares of Facebook and gave the company a “buy” rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $202.86.

Shares of Facebook (NASDAQ FB) opened at $181.29 on Friday. The company has a market cap of $526,790.00, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 1.03 and a beta of 0.68. Facebook has a 1 year low of $126.78 and a 1 year high of $188.90.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. equities analysts expect that Facebook will post 5.86 earnings per share for the current year.

In other Facebook news, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $175.20, for a total transaction of $2,803,200.00. Following the completion of the sale, the insider now directly owns 172,871 shares in the company, valued at $30,286,999.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $172.43, for a total transaction of $129,322.50. Following the sale, the vice president now owns 89,916 shares of the company’s stock, valued at $15,504,215.88. The disclosure for this sale can be found here. Insiders sold a total of 4,181,449 shares of company stock valued at $752,592,962 over the last quarter. 17.23% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in FB. Palisade Capital Management LLC NJ increased its stake in Facebook by 2.4% in the second quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock valued at $3,904,000 after acquiring an additional 602 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Facebook by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock valued at $1,128,745,000 after acquiring an additional 349,182 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Facebook by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,610 shares of the social networking company’s stock valued at $26,514,000 after acquiring an additional 907 shares during the last quarter. Birinyi Associates Inc. increased its stake in Facebook by 11.7% in the second quarter. Birinyi Associates Inc. now owns 30,500 shares of the social networking company’s stock valued at $4,605,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in Facebook by 2.9% in the third quarter. Xact Kapitalforvaltning AB now owns 424,191 shares of the social networking company’s stock valued at $72,482,000 after acquiring an additional 11,940 shares during the last quarter. 57.75% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Facebook (NASDAQ:FB)

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