Janney Montgomery Scott reissued their buy rating on shares of Facebook (NASDAQ:FB) in a research report sent to investors on Thursday morning, American Banking News reports. The firm currently has a $56.00 price target on the stock, up from their previous price target of $50.00.
Facebook (NASDAQ:FB) traded down 3.08% during mid-day trading on Thursday, hitting $48.22. 80,334,448 shares of the company’s stock traded hands. Facebook has a one year low of $18.87 and a one year high of $54.83. The stock’s 50-day moving average is $49.41 and its 200-day moving average is $35.02. The company has a market cap of $117.2 billion and a price-to-earnings ratio of 127.24.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.06. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 59.7% on a year-over-year basis. On average, analysts predict that Facebook will post $0.83 earnings per share for the current fiscal year.
In other Facebook news, VP Colin Stretch sold 2,977 shares of the company’s stock on the open market in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.74, for a total transaction of $151,052.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Wells Fargo & Co. reiterated an outperform rating on shares of Facebook in a research note to investors on Thursday. They now have a $61.00 price target on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Facebook from $40.00 to $63.00 in a research note to investors on Thursday. They now have a buy rating on the stock. Finally, analysts at Topeka Capital Markets reiterated a buy rating on shares of Facebook in a research note to investors on Thursday. They now have a $63.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and thirty-six have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $56.27.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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