Goldman Sachs Group set a $231.00 price objective on Facebook (NASDAQ:FB) in a research report released on Friday, Borsen Zeitung reports. The firm currently has a buy rating on the social networking company’s stock.
Several other equities analysts have also weighed in on FB. Guggenheim restated a hold rating on shares of Facebook in a report on Tuesday, September 10th. Oppenheimer increased their price target on shares of Facebook from $225.00 to $230.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Robert W. Baird increased their price target on shares of Facebook from $215.00 to $230.00 and gave the company an outperform rating in a research note on Thursday, July 25th. MKM Partners reiterated a buy rating and issued a $245.00 price target (up previously from $190.00) on shares of Facebook in a research note on Friday, August 2nd. Finally, Deutsche Bank set a $230.00 price target on shares of Facebook and gave the company a buy rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have given a buy rating to the stock. Facebook has a consensus rating of Buy and a consensus target price of $223.11.
Shares of NASDAQ FB opened at $185.85 on Friday. The company’s 50 day simple moving average is $184.25 and its 200 day simple moving average is $185.89. Facebook has a fifty-two week low of $123.02 and a fifty-two week high of $208.66. The firm has a market capitalization of $530.22 billion, a P/E ratio of 24.55, a P/E/G ratio of 1.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.47 and a quick ratio of 4.47.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.09. Facebook had a net margin of 27.26% and a return on equity of 20.09%. The business had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. During the same period in the prior year, the business posted $1.74 earnings per share. Facebook’s revenue was up 27.6% compared to the same quarter last year. Sell-side analysts expect that Facebook will post 7.99 EPS for the current fiscal year.
In related news, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $200.81, for a total transaction of $11,044,550.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 76,484 shares of Facebook stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $175.34, for a total transaction of $13,410,704.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,028,338 shares of company stock worth $742,544,275. Insiders own 14.53% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Cordasco Financial Network boosted its position in Facebook by 70.0% during the 2nd quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after buying an additional 70 shares during the period. Shamrock Asset Management LLC acquired a new stake in Facebook during the 2nd quarter worth approximately $38,000. Clean Yield Group acquired a new stake in Facebook during the 2nd quarter worth approximately $39,000. Litman Gregory Asset Management LLC acquired a new stake in Facebook during the 2nd quarter worth approximately $41,000. Finally, Spectrum Management Group Inc. boosted its position in Facebook by 135.3% during the 2nd quarter. Spectrum Management Group Inc. now owns 240 shares of the social networking company’s stock worth $46,000 after buying an additional 138 shares during the period. 63.23% of the stock is currently owned by institutional investors.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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