Oppenheimer Holdings, Inc. Increases Facebook, Inc. (FB) Price Target to $200.00

Facebook, Inc. (NASDAQ:FB) had its price objective increased by research analysts at Oppenheimer Holdings, Inc. from $195.00 to $200.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the social networking company’s stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 11.07% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Credit Suisse Group reaffirmed a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) set a $205.00 price target on Facebook and gave the company a “buy” rating in a report on Friday, October 20th. Robert W. Baird reaffirmed a “buy” rating and issued a $185.00 price target on shares of Facebook in a report on Friday, September 1st. Wedbush set a $225.00 price target on Facebook and gave the company a “buy” rating in a report on Monday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the company. Facebook has an average rating of “Buy” and a consensus price target of $195.93.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The business’s revenue was up 47.3% on a year-over-year basis. During the same period last year, the business earned $1.09 earnings per share.

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In related news, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $169.95, for a total transaction of $2,719,200.00. Following the sale, the insider now directly owns 180,871 shares in the company, valued at approximately $30,739,026.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $171.88, for a total value of $128,910.00. Following the sale, the vice president now owns 82,406 shares in the company, valued at $14,163,943.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,306,683 shares of company stock worth $1,441,300,245. Corporate insiders own 19.08% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI grew its position 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 buying an additional 120 shares in the last quarter. D. Scott Neal Inc. grew its position 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 buying an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position 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 buying an additional 34 shares in the last quarter. Pacific Center for Financial Services grew its position 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 buying an additional 88 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new position in Facebook during the second quarter worth about $138,000. Institutional investors and hedge funds own 57.27% of the company’s stock.

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.

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