Facebook Price Target Raised to $45.00 at UBS AG (FB)

UBS AG boosted their price objective on shares of Facebook (NASDAQ:FB) to $45.00 in a research note issued on Friday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. UBS AG’s price objective would indicate a potential upside of 16.76% from the stock’s previous close.

Shares of Facebook (NASDAQ:FB) traded up 0.15% during mid-day trading on Friday, hitting $38.597. Facebook has a 52 week low of $17.55 and a 52 week high of $39.32. The stock’s 50-day moving average is currently $28.72. The company has a market cap of $93.996 billion and a P/E ratio of 174.39.

Facebook (NASDAQ:FB) last released its earnings data on Wednesday, July 24th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. On average, analysts predict that Facebook will post $0.71 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley raised their price target on shares of Facebook from $38.00 to $45.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Separately, analysts at Zacks upgraded shares of Facebook from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $47.00 price target on the stock. Finally, analysts at Sanford C. Bernstein set a $35.00 price target on shares of Facebook in a research note to investors on Tuesday. They now have a “market perform” rating on the stock.

Eleven research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $38.31.

In other Facebook news, VP Colin Stretch sold 2,287 shares of Facebook stock in a transaction that occured on Tuesday, August 6th. The shares were sold at an average price of $39.10, for a total value of $89,421.70. Following the sale, the vice president now directly owns 118,832 shares in the company. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.