Vetr Lowers Facebook (FB) to Buy

Vetr cut shares of Facebook (NASDAQ:FB) from a strong-buy rating to a buy rating in a report issued on Thursday morning. They currently have $199.43 price objective on the social networking company’s stock.

A number of other brokerages also recently weighed in on FB. Zacks Investment Research upgraded Facebook from a hold rating to a buy rating and set a $202.00 price target for the company in a report on Tuesday, November 7th. Aegis boosted their price target on Facebook from $200.00 to $215.00 and gave the company a buy rating in a report on Wednesday, November 1st. Royal Bank of Canada boosted their price target on Facebook from $195.00 to $230.00 and gave the company an outperform rating in a report on Thursday, November 2nd. Barclays boosted their price target on Facebook from $200.00 to $215.00 and gave the company an overweight rating in a report on Thursday, November 2nd. Finally, Jefferies Group boosted their price target on Facebook to $225.00 and gave the company a buy rating in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $200.75.

Shares of Facebook (NASDAQ:FB) traded up $1.79 during midday trading on Thursday, hitting $180.18. The stock had a trading volume of 26,225,100 shares, compared to its average volume of 16,747,133. Facebook has a 1-year low of $114.77 and a 1-year high of $184.25. The company has a market cap of $523,568.47, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 1.15 and a beta of 0.69.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. During the same period in the previous year, the business earned $1.09 EPS. The business’s quarterly revenue was up 47.3% on a year-over-year basis. research analysts anticipate that Facebook will post 5.86 earnings per share for the current fiscal year.

In other news, CTO Michael Todd Schroepfer sold 38,042 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $177.86, for a total value of $6,766,150.12. Following the completion of the sale, the chief technology officer now owns 402,534 shares in the company, valued at $71,594,697.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $171.40, for a total value of $128,550.00. Following the completion of the sale, the vice president now owns 93,341 shares of the company’s stock, valued at approximately $15,998,647.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,066,441 shares of company stock valued at $903,750,174 in the last quarter. 17.23% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after purchasing an additional 5,151,190 shares during the period. BlackRock Inc. raised its position in shares of Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after purchasing an additional 4,032,727 shares during the period. State Street Corp raised its position in shares of Facebook by 1.7% during the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after purchasing an additional 1,536,158 shares during the period. Capital World Investors raised its position in shares of Facebook by 1.5% during the second quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock worth $8,578,347,000 after purchasing an additional 833,810 shares during the period. Finally, Northern Trust Corp raised its position in shares of Facebook by 0.4% during the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after purchasing an additional 114,694 shares during the period. Institutional investors and hedge funds own 57.86% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Facebook (NASDAQ:FB)

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