Facebook’s (FB) Outperform Rating Reaffirmed at Wedbush
Wedbush reiterated their outperform rating on shares of Facebook Inc. (NASDAQ:FB) in a report issued on Wednesday morning. Wedbush currently has a $162.00 target price on the social networking company’s stock.
A number of other equities analysts also recently commented on the stock. Mizuho reiterated a buy rating and issued a $150.00 target price on shares of Facebook in a report on Tuesday. Canaccord Genuity reiterated a buy rating and issued a $160.00 target price on shares of Facebook in a report on Tuesday. Robert W. Baird restated an outperform rating and set a $155.00 price objective on shares of Facebook in a report on Tuesday. Zacks Investment Research downgraded shares of Facebook from a strong-buy rating to a hold rating in a report on Tuesday, September 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Facebook from $170.00 to $175.00 and gave the company an overweight rating in a report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-four have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $149.99.
Shares of Facebook (NASDAQ:FB) traded up 0.44% during mid-day trading on Wednesday, hitting $129.04. 6,029,924 shares of the stock were exchanged. The stock’s 50 day moving average is $127.30 and its 200-day moving average is $119.52. The stock has a market cap of $370.56 billion, a PE ratio of 61.68 and a beta of 0.77. Facebook has a 12 month low of $89.37 and a 12 month high of $131.98.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.15. The business earned $6.44 billion during the quarter, compared to the consensus estimate of $6 billion. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The firm’s revenue was up 59.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. On average, analysts anticipate that Facebook will post $3.94 EPS for the current year.
In other Facebook news, Director Jan Koum sold 1,721,436 shares of Facebook stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $118.13, for a total transaction of $203,353,234.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Colin Stretch sold 400 shares of Facebook stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $125.00, for a total value of $50,000.00. Following the transaction, the vice president now directly owns 88,940 shares in the company, valued at approximately $11,117,500. The disclosure for this sale can be found here. Insiders own 19.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FB. Capital World Investors raised its position in Facebook by 41.3% in the second quarter. Capital World Investors now owns 33,131,292 shares of the social networking company’s stock worth $3,786,244,000 after buying an additional 9,686,624 shares during the last quarter. Third Point LLC bought a new position in Facebook during the second quarter worth about $428,550,000. Vanguard Group Inc. raised its position in Facebook by 2.5% in the second quarter. Vanguard Group Inc. now owns 139,483,685 shares of the social networking company’s stock worth $15,940,195,000 after buying an additional 3,400,653 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Facebook during the second quarter worth about $369,509,000. Finally, State Street Corp raised its position in Facebook by 2.3% in the first quarter. State Street Corp now owns 85,825,821 shares of the social networking company’s stock worth $9,792,722,000 after buying an additional 1,950,433 shares during the last quarter. 56.61% of the stock is currently owned by institutional investors.
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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