Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating reissued by research analysts at Cantor Fitzgerald in a research report issued on Tuesday. They currently have a $190.00 price objective on the social networking company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 5.65% from the company’s previous close.
The analysts wrote, “Strong 3Q17 results expected. Our 3Q17 revenue and EBITDA estimates are $9,917.1M (+41.5% Y/Y) and $6,413.6M (61.5% margin) vs. consensus (FactSet) of $9,845.3M and $6,172.4M, respectively. The consensus range for revenue is $9,521.5-10,178.0M, and the range for EBITDA is $5,918.0-6,479.0M. Our model assumes MAU growth of 16.8% Y/Y to 2.089B and DAU/MAU (engagement) of 0.663. Our GAAP EPS estimate is $1.32 vs. consensus’ $1.27 (range $1.15-1.44).””
Several other equities analysts have also commented on the company. Goldman Sachs Group, Inc. (The) set a $205.00 target price on Facebook and gave the company a “buy” rating in a report on Friday, October 20th. Oppenheimer Holdings, Inc. increased their target price on Facebook from $170.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. JMP Securities reissued an “outperform” rating and issued a $195.00 target price (up previously from $170.00) on shares of Facebook in a report on Thursday, July 27th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price on the stock in a report on Monday, August 28th. Finally, BidaskClub raised Facebook from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-five have issued a buy rating and two have assigned a strong buy rating to the company. Facebook presently has a consensus rating of “Buy” and a consensus price target of $186.72.
Facebook (NASDAQ:FB) traded up 0.31% during mid-day trading on Tuesday, hitting $180.43. The stock had a trading volume of 12,556,757 shares. Facebook has a 52-week low of $113.55 and a 52-week high of $180.80. The firm has a 50-day moving average of $171.82 and a 200-day moving average of $161.20. The stock has a market cap of $524.00 billion, a P/E ratio of 40.38 and a beta of 0.70.
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In other news, VP David B. Fischer sold 4,699 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $171.53, for a total value of $806,019.47. The sale was disclosed in a document filed 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 that occurred on Tuesday, October 17th. The stock was sold at an average price of $175.29, for a total transaction of $131,467.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,705,933 shares of company stock valued at $972,931,125 over the last three months. 19.08% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after purchasing an additional 5,151,190 shares during the last quarter. BlackRock Inc. lifted its stake in Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after purchasing an additional 4,032,727 shares during the last quarter. State Street Corp lifted its stake in Facebook by 1.7% during the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after purchasing an additional 1,536,158 shares during the last quarter. Capital World Investors lifted its stake in Facebook by 1.5% during the second quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock valued at $8,578,347,000 after purchasing an additional 833,810 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Facebook by 0.4% during the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock valued at $3,994,161,000 after purchasing an additional 114,694 shares during the last quarter. 57.27% of the stock is owned by institutional investors and hedge funds.
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.
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