Facebook (FB) Price Target Raised to $235.00

Facebook (NASDAQ:FB) had its price objective upped by Credit Suisse Group from $211.00 to $235.00 in a research note published on Thursday, The Fly reports. They currently have a neutral rating on the social networking company’s stock.

A number of other research firms have also weighed in on FB. Royal Bank of Canada set a $200.00 target price on shares of Facebook and gave the stock a buy rating in a research report on Tuesday, April 23rd. Canaccord Genuity boosted their target price on shares of Facebook from $200.00 to $225.00 and gave the stock a buy rating in a research report on Thursday. Barclays boosted their target price on shares of Facebook from $210.00 to $240.00 and gave the stock an overweight rating in a research report on Thursday. Monness Crespi & Hardt reissued a buy rating and set a $250.00 target price (up previously from $225.00) on shares of Facebook in a research report on Thursday. Finally, Robert W. Baird boosted their target price on shares of Facebook from $195.00 to $215.00 and gave the stock an outperform rating in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $206.58.

FB stock opened at $191.49 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.38 and a quick ratio of 7.19. Facebook has a 1 year low of $123.02 and a 1 year high of $218.62. The firm has a market capitalization of $556.28 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 1.40 and a beta of 0.88.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.80). Facebook had a net margin of 33.17% and a return on equity of 23.67%. The business had revenue of $15.08 billion during the quarter, compared to analyst estimates of $14.97 billion. During the same period in the previous year, the firm posted $1.69 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities analysts forecast that Facebook will post 7.98 earnings per share for the current year.

In related news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $184.49, for a total value of $138,367.50. Following the sale, the vice president now owns 100,122 shares of the company’s stock, valued at $18,471,507.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David B. Fischer sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the vice president now directly owns 48,970 shares in the company, valued at approximately $8,569,750. The disclosure for this sale can be found here. In the last three months, insiders sold 1,565,185 shares of company stock worth $274,875,281. 14.53% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FB. Oregon Public Employees Retirement Fund increased its stake in Facebook by 13,908.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 70,768,412 shares of the social networking company’s stock valued at $540,000 after acquiring an additional 70,263,213 shares during the period. Norges Bank bought a new stake in Facebook in the fourth quarter valued at about $3,229,577,000. Polen Capital Management LLC increased its stake in Facebook by 88.2% in the fourth quarter. Polen Capital Management LLC now owns 7,354,192 shares of the social networking company’s stock valued at $964,061,000 after acquiring an additional 3,445,879 shares during the period. Altimeter Capital Management LP increased its stake in Facebook by 426.2% in the fourth quarter. Altimeter Capital Management LP now owns 3,368,000 shares of the social networking company’s stock valued at $441,511,000 after acquiring an additional 2,727,900 shares during the period. Finally, Geode Capital Management LLC increased its stake in Facebook by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 31,772,199 shares of the social networking company’s stock valued at $4,157,898,000 after acquiring an additional 2,203,076 shares during the period. 60.24% of the stock is currently owned by institutional investors and hedge funds.

About Facebook

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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