Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report released on Wednesday, The Fly reports. They presently have a $185.00 target price on the social networking company’s stock, up from their previous target price of $165.00. Needham & Company LLC’s target price points to a potential upside of 13.59% from the stock’s current price.
A number of other research firms have also recently commented on FB. Wells Fargo & Company reiterated an “overweight” rating on shares of Facebook in a research note on Wednesday, April 19th. J P Morgan Chase & Co lifted their price objective on shares of Facebook from $170.00 to $182.00 and gave the company an “overweight” rating in a research note on Thursday, May 4th. Aegis restated a “buy” rating on shares of Facebook in a research note on Monday, May 22nd. Instinet restated a “buy” rating on shares of Facebook in a research note on Saturday, March 25th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $180.00 price objective on shares of Facebook in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have assigned a buy rating and four have issued a strong buy rating to the company. Facebook presently has an average rating of “Buy” and a consensus target price of $166.98.
Shares of Facebook (NASDAQ:FB) opened at 162.86 on Wednesday. The company has a market cap of $472.00 billion, a price-to-earnings ratio of 41.41 and a beta of 0.67. The company’s 50-day moving average is $153.09 and its 200 day moving average is $142.36. Facebook has a 1-year low of $113.55 and a 1-year high of $163.73.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.16. Facebook had a net margin of 36.45% and a return on equity of 20.27%. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.83 billion. During the same period last year, the business earned $0.77 EPS. The company’s revenue was up 49.2% compared to the same quarter last year. Equities analysts anticipate that Facebook will post $4.87 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This story was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://stocknewstimes.com/2017/07/19/facebook-inc-nasdaqfb-given-buy-rating-at-needham-company-llc.html.
In other Facebook news, Director Jan Koum sold 3,600,000 shares of Facebook stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $160.06, for a total value of $576,216,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $143.95, for a total value of $2,303,200.00. Following the completion of the sale, the insider now directly owns 181,431 shares in the company, valued at approximately $26,116,992.45. The disclosure for this sale can be found here. Insiders sold a total of 9,854,174 shares of company stock valued at $1,521,307,701 over the last three months. Insiders own 19.08% of the company’s stock.
Large investors have recently modified their holdings of the company. Arcadia Investment Management Corp MI boosted its stake in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after buying an additional 120 shares during the last quarter. D. Scott Neal Inc. boosted its stake in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after buying an additional 679 shares during the last quarter. Cohen Capital Management Inc. acquired a new stake in Facebook during the first quarter valued at $121,000. Cable Hill Partners LLC boosted its stake in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 79 shares during the last quarter. Finally, Pacific Center for Financial Services boosted its stake in Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 88 shares during the last quarter. Institutional investors own 57.63% of the company’s stock.
About Facebook
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.
Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
