Facebook, Inc. (FB) Stock Rating Reaffirmed by Wedbush

Facebook, Inc. (NASDAQ:FB)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a report issued on Thursday. They currently have a $230.00 price target on the social networking company’s stock, up from their previous price target of $225.00. Wedbush’s price target would suggest a potential upside of 27.74% from the company’s previous close.

A number of other brokerages have also recently commented on FB. Aegis increased their target price on shares of Facebook from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup Inc. increased their target price on shares of Facebook 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 increased their target price on shares of Facebook to $215.00 and gave the company an “overweight” rating in a research report on Thursday. Stifel Nicolaus reduced their target price on shares of Facebook from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Royal Bank Of Canada increased their target price on shares of Facebook from $195.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company. Facebook currently has a consensus rating of “Buy” and a consensus price target of $192.43.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Tuesday, October 31st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company’s revenue was up 47.3% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share.

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In related news, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $169.95, for a total value of $2,719,200.00. Following the completion of the transaction, the insider now owns 180,871 shares in the company, valued at $30,739,026.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction that occurred on 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 owns 82,406 shares of the company’s stock, valued at approximately $14,163,943.28. The disclosure for this sale can be found here. In the last three months, insiders sold 8,306,683 shares of company stock valued at $1,441,300,245. Insiders own 19.08% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI raised its holdings in Facebook by 20.0% during the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after purchasing an additional 120 shares in the last quarter. D. Scott Neal Inc. raised its holdings in Facebook by 1,358.0% during the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after purchasing an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. raised its holdings in Facebook by 4.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after purchasing an additional 34 shares in the last quarter. Pacific Center for Financial Services raised its holdings in Facebook by 10.7% during the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock worth $129,000 after purchasing an additional 88 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in Facebook during the second quarter worth approximately $138,000. Institutional investors own 57.27% of the company’s stock.

Facebook Company Profile

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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