Investment analysts at Sanford C. Bernstein hoisted their price target on shares of Facebook (NASDAQ:FB) from $35.00 to $40.00 in a note issued to investors on Friday, American Banking & Market News reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target points to a potential downside of 21.94% from the stock’s previous close.
Shares of Facebook (NASDAQ:FB) traded up 1.69% during mid-day trading on Friday, hitting $51.24. 81,153,360 shares of the company’s stock traded hands. Facebook has a 52 week low of $18.80 and a 52 week high of $50.60. The stock’s 50-day moving average is $42.11 and its 200-day moving average is $30.63. The company has a market cap of $124.8 billion and a P/E ratio of 228.01.
Facebook (NASDAQ:FB) last released its earnings data on Wednesday, July 24th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company posted $0.12 earnings per share. Facebook’s revenue was up 53.1% compared to the same quarter last year. Analysts expect that Facebook will post $0.72 EPS for the current fiscal year.
In other Facebook news, COO Sheryl Sandberg sold 176,452 shares of the company’s stock on the open market in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $49.06, for a total transaction of $8,656,735.12. Following the sale, the chief operating officer now directly owns 12,123,507 shares of the company’s stock, valued at approximately $594,779,253. The sale was disclosed in a document filed with the SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of Facebook (NASDAQ:FB) from $45.00 to $60.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Facebook (NASDAQ:FB) from $43.00 to $62.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Facebook (NASDAQ:FB) to $58.00 in a research note to investors on Thursday. Nine equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $47.11.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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