Facebook, Inc. (NASDAQ:FB) Hits New 52-Week High After Analyst Upgrade

Shares of Facebook, Inc. (NASDAQ:FB) hit a new 52-week high during mid-day trading on Monday after Raymond James Financial raised their price target on the stock from $180.00 to $215.00. Raymond James Financial currently has a strong-buy rating on the stock. Facebook traded as high as $166.02 and last traded at $166.00, with a volume of 15,233,489 shares traded. The stock had previously closed at $164.43.

A number of other equities analysts have also weighed in on FB. UBS AG reiterated a “buy” rating and issued a $165.00 price target on shares of Facebook in a report on Wednesday, April 19th. Cowen and Company reiterated an “outperform” rating and issued a $195.00 price target (up previously from $180.00) on shares of Facebook in a report on Thursday, July 27th. Canaccord Genuity reiterated a “buy” rating and issued a $190.00 price target (up previously from $175.00) on shares of Facebook in a report on Thursday, July 27th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 price target (up previously from $170.00) on shares of Facebook in a report on Thursday, July 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $185.00 target price on shares of Facebook in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $183.47.

In related news, CEO Mark Zuckerberg sold 279,533 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $152.04, for a total transaction of $42,500,197.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $148.54, for a total transaction of $111,405.00. Following the sale, the vice president now directly owns 90,656 shares of the company’s stock, valued at $13,466,042.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,702,398 shares of company stock worth $2,054,828,660. Company insiders own 19.08% of the company’s stock.

A number of hedge funds have recently modified their holdings of FB. M Holdings Securities Inc. increased its stake in shares of Facebook by 15.4% in the fourth quarter. M Holdings Securities Inc. now owns 14,088 shares of the social networking company’s stock worth $1,621,000 after buying an additional 1,885 shares during the period. Howard Capital Management increased its stake in shares of Facebook by 2.8% in the first quarter. Howard Capital Management now owns 134,712 shares of the social networking company’s stock worth $19,136,000 after buying an additional 3,726 shares during the period. Patten & Patten Inc. TN increased its stake in shares of Facebook by 14.0% in the first quarter. Patten & Patten Inc. TN now owns 9,785 shares of the social networking company’s stock worth $1,390,000 after buying an additional 1,200 shares during the period. CMH Wealth Management LLC bought a new stake in shares of Facebook during the fourth quarter worth $2,821,000. Finally, Honkamp Krueger Financial Services Inc. increased its stake in shares of Facebook by 6.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,611 shares of the social networking company’s stock worth $655,000 after buying an additional 292 shares during the period. 57.40% of the stock is owned by hedge funds and other institutional investors.

The firm’s 50 day moving average price is $163.85 and its 200 day moving average price is $148.79. The company has a market capitalization of $486.19 billion, a PE ratio of 37.47 and a beta of 0.70.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 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 44.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. On average, analysts predict that Facebook, Inc. will post $5.33 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.com-unik.info/2017/08/19/facebook-inc-nasdaqfb-sets-new-1-year-high-on-analyst-upgrade-updated-updated-updated.html.

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.

What are top analysts saying about Facebook Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Facebook Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit