Facebook, Inc. (NASDAQ:FB) had its price objective lifted by equities research analysts at J P Morgan Chase & Co from $172.60 to $210.00 in a report issued on Thursday. The firm currently has an “overweight” rating on the social networking company’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 21.77% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities analysts also recently issued research reports about the stock. UBS AG restated a “buy” rating and set a $165.00 price objective on shares of Facebook in a report on Wednesday, April 19th. Jefferies Group LLC restated a “buy” rating and set a $175.00 price objective on shares of Facebook in a report on Wednesday, April 19th. Aegis upped their price objective on shares of Facebook from $155.00 to $160.00 and gave the company a “buy” rating in a report on Monday, April 17th. Instinet restated a “buy” rating and set a $165.00 price objective on shares of Facebook in a report on Saturday, April 22nd. Finally, Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of Facebook in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, forty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $178.52.
Shares of Facebook (NASDAQ FB) traded up 1.18% during mid-day trading on Thursday, hitting $172.45. 24,557,553 shares of the stock were exchanged. The stock has a market cap of $500.11 billion, a PE ratio of 38.58 and a beta of 0.67. Facebook has a 12 month low of $113.55 and a 12 month high of $175.49. The stock’s 50 day moving average is $156.22 and its 200-day moving average is $144.53. Facebook also was the recipient of some unusual options trading activity on Wednesday. Traders purchased 213,349 call options on the stock. This represents an increase of approximately 121% compared to the typical daily volume of 96,355 call options.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, analysts anticipate that Facebook will post $5.23 EPS for the current year.
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In other Facebook news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $165.29, for a total transaction of $123,967.50. Following the transaction, the vice president now owns 83,906 shares of the company’s stock, valued at $13,868,822.74. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan Desmond-Hellmann sold 209 shares of Facebook stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $144.67, for a total value of $30,236.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,160,716 shares of company stock worth $1,602,152,681. 19.08% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI raised its position 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 worth $102,000 after buying an additional 120 shares during the last quarter. D. Scott Neal Inc. raised its position 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 worth $110,000 after buying an additional 679 shares during the last quarter. Cohen Capital Management Inc. bought a new position in Facebook during the first quarter worth about $121,000. Farmers & Merchants Investments Inc. raised its position in Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after buying an additional 34 shares during the last quarter. Finally, Cable Hill Partners LLC raised its position in Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 79 shares during the last quarter. 57.68% of the stock is currently owned by institutional investors.
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.
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