Credit Suisse Group Reiterates Outperform Rating for Facebook, Inc. (FB)

Facebook, Inc. (NASDAQ:FB)‘s stock had its “outperform” rating reissued by equities research analysts at Credit Suisse Group in a research report issued on Thursday. They currently have a $230.00 price target on the social networking company’s stock, down from their prior price target of $235.00. Credit Suisse Group’s price target would suggest a potential upside of 27.74% from the stock’s previous close.

Several other research firms also recently weighed in on FB. Aegis boosted their target price on Facebook from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup Inc. boosted their target price on Facebook from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Barclays PLC boosted their target price on Facebook to $215.00 and gave the company an “overweight” rating in a research report on Thursday. J P Morgan Chase & Co set a $225.00 target price on Facebook and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus cut their target price on Facebook from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given 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 a consensus rating of “Buy” and a consensus target price of $193.58.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS.

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In other news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $171.88, for a total transaction of $128,910.00. Following the completion of the transaction, the vice president now directly owns 82,406 shares of the company’s stock, valued at approximately $14,163,943.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jan Koum sold 2,953,492 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $170.17, for a total value of $502,595,733.64. The disclosure for this sale can be found here. Insiders sold 8,306,683 shares of company stock valued at $1,441,300,245 over the last ninety days. Insiders own 19.08% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FB. Arcadia Investment Management Corp MI boosted its position in shares of Facebook by 20.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after acquiring an additional 120 shares in the last quarter. D. Scott Neal Inc. boosted its position in shares of Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after acquiring an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of Facebook by 4.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after acquiring an additional 34 shares in the last quarter. Pacific Center for Financial Services boosted its position in shares of Facebook by 10.7% during the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after acquiring an additional 88 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in shares of Facebook during the 2nd quarter worth about $138,000. 57.27% of the stock is owned by institutional investors and hedge funds.

About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Analyst Recommendations for Facebook (NASDAQ:FB)

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