Needham & Company LLC Reaffirms Buy Rating for Facebook Inc. (FB)
Needham & Company LLC reaffirmed their buy rating on shares of Facebook Inc. (NASDAQ:FB) in a research note released on Wednesday morning. Needham & Company LLC currently has a $150.00 target price on the social networking company’s stock.
Several other analysts also recently commented on the stock. Vetr upgraded shares of Facebook from a hold rating to a buy rating and set a $136.45 price target for the company in a research report on Monday, September 12th. Societe Generale set a $80.00 price objective on shares of Facebook and gave the stock a sell rating in a research report on Thursday, July 7th. Robert W. Baird upgraded shares of Facebook to a buy rating in a research report on Monday, July 18th. Citigroup Inc. upped their price objective on shares of Facebook from $148.00 to $158.00 and gave the stock a buy rating in a research report on Monday, September 19th. Finally, Macquarie restated an outperform rating and set a $155.00 price objective on shares of Facebook in a research report on Monday, October 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Facebook currently has an average rating of Buy and an average target price of $150.30.
Facebook (NASDAQ:FB) opened at 127.88 on Wednesday. The stock has a 50 day moving average of $128.26 and a 200 day moving average of $120.22. Facebook has a 1-year low of $89.37 and a 1-year high of $131.98. The stock has a market capitalization of $367.23 billion, a P/E ratio of 61.13 and a beta of 0.77.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.82 by $0.15. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The firm earned $6.44 billion during the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. Facebook’s revenue for the quarter was up 59.2% on a year-over-year basis. On average, analysts expect that Facebook will post $3.94 earnings per share for the current year.
In other news, insider Christopher K. Cox sold 15,600 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $121.08, for a total transaction of $1,888,848.00. Following the transaction, the insider now owns 388,392 shares of the company’s stock, valued at $47,026,503.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David B. Fischer sold 31,500 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $123.58, for a total value of $3,892,770.00. Following the completion of the transaction, the vice president now directly owns 218,648 shares in the company, valued at approximately $27,020,519.84. The disclosure for this sale can be found here. Insiders own 19.08% of the company’s stock.
A number of 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 valued at $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 valued at $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 valued at $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 valued at $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 valued at $9,792,722,000 after buying an additional 1,950,433 shares during the last quarter. 56.63% of the stock is currently owned by hedge funds and other 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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