Facebook Inc. (FB) Research Coverage Started at Loop Capital
Research analysts at Loop Capital assumed coverage on shares of Facebook Inc. (NASDAQ:FB) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating and a $165.00 price target on the social networking company’s stock. Loop Capital’s price objective suggests a potential upside of 26.88% from the stock’s previous close. The analysts noted that the move was a valuation call.
FB has been the subject of several other reports. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $127.69 target price for the company in a research note on Wednesday, August 3rd. Tigress Financial raised Facebook from a “buy” rating to a “strong-buy” rating and set a $114.33 price objective for the company in a research report on Thursday, June 30th. Jefferies Group reaffirmed a “buy” rating on shares of Facebook in a research report on Monday, July 18th. Evercore ISI reaffirmed a “buy” rating and set a $155.00 price objective on shares of Facebook in a research report on Tuesday, July 26th. Finally, Citigroup Inc. upped their price objective on Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have issued a buy rating and three have assigned a strong buy rating to the company. Facebook presently has a consensus rating of “Buy” and an average price target of $149.75.
Shares of Facebook (NASDAQ:FB) traded down 1.5323% on Thursday, hitting $128.0868. The stock had a trading volume of 15,933,448 shares. The firm has a market cap of $367.82 billion, a PE ratio of 61.2270 and a beta of 0.76. The firm’s 50-day moving average price is $126.35 and its 200 day moving average price is $118.21. Facebook has a 52-week low of $85.72 and a 52-week high of $131.98.
Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The firm earned $6.44 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the previous year, the firm posted $0.50 EPS. Facebook’s revenue for the quarter was up 59.2% on a year-over-year basis. On average, equities research analysts predict that Facebook will post $3.94 EPS for the current year.
In other news, VP David B. Fischer sold 23,625 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $115.17, for a total transaction of $2,720,891.25. Following the completion of the sale, the vice president now directly owns 240,356 shares in the company, valued at $27,681,800.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jan Koum sold 1,434,530 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $109.64, for a total value of $157,281,869.20. The disclosure for this sale can be found here. 19.08% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. National Pension Service increased its stake in shares of Facebook by 4.2% in the first quarter. National Pension Service now owns 1,063,800 shares of the social networking company’s stock valued at $121,380,000 after buying an additional 43,338 shares in the last quarter. Geode Capital Management LLC increased its position in Facebook by 3.7% in the first quarter. Geode Capital Management LLC now owns 19,410,677 shares of the social networking company’s stock worth $2,210,464,000 after buying an additional 690,650 shares during the period. Factory Mutual Insurance Co. increased its position in Facebook by 3.1% in the second quarter. Factory Mutual Insurance Co. now owns 837,000 shares of the social networking company’s stock worth $95,652,000 after buying an additional 25,000 shares during the period. Renaissance Technologies LLC increased its position in Facebook by 36.9% in the first quarter. Renaissance Technologies LLC now owns 2,453,800 shares of the social networking company’s stock worth $279,979,000 after buying an additional 661,600 shares during the period. Finally, Jackson Square Partners LLC increased its position in Facebook by 21.4% in the first quarter. Jackson Square Partners LLC now owns 5,507,159 shares of the social networking company’s stock worth $628,366,000 after buying an additional 969,198 shares during the period. Institutional investors own 56.61% 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.
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