Facebook (FB) Downgraded by BidaskClub to Buy

BidaskClub downgraded shares of Facebook (NASDAQ:FB) from a strong-buy rating to a buy rating in a report released on Friday.

A number of other brokerages also recently commented on FB. JPMorgan Chase & Co. set a $230.00 price objective on shares of Facebook and gave the company a buy rating in a research report on Monday, January 8th. Pivotal Research reissued a sell rating and issued a $147.00 target price on shares of Facebook in a research report on Monday, January 8th. Credit Suisse Group boosted their target price on shares of Facebook from $230.00 to $232.00 and gave the stock an outperform rating in a research report on Monday, January 8th. Wells Fargo & Co reissued an outperform rating and issued a $230.00 target price (up from $215.00) on shares of Facebook in a research report on Monday, January 8th. Finally, Vetr raised shares of Facebook from a buy rating to a strong-buy rating and set a $210.43 target price for the company in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $202.86.

Facebook (FB) opened at $185.37 on Friday. Facebook has a 1 year low of $126.95 and a 1 year high of $188.90. The company has a market cap of $538,650.00, a P/E ratio of 34.46, a P/E/G ratio of 1.03 and a beta of 0.68.

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

In related news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $180.16, for a total transaction of $135,120.00. Following the completion of the transaction, the vice president now directly owns 88,841 shares in the company, valued at approximately $16,005,594.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jan Koum sold 2,600,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $180.09, for a total transaction of $468,234,000.00. The disclosure for this sale can be found here. Insiders sold 4,164,699 shares of company stock valued at $749,660,440 over the last 90 days. 17.23% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in FB. Alta Capital Management LLC grew its holdings in shares of Facebook by 29.4% in the 2nd quarter. Alta Capital Management LLC now owns 147,950 shares of the social networking company’s stock worth $22,337,000 after purchasing an additional 33,592 shares during the last quarter. RB Capital Management LLC grew its holdings in shares of Facebook by 11.6% in the 2nd quarter. RB Capital Management LLC now owns 12,976 shares of the social networking company’s stock worth $1,959,000 after purchasing an additional 1,345 shares during the last quarter. Iberiabank Corp grew its holdings in shares of Facebook by 91.8% in the 2nd quarter. Iberiabank Corp now owns 12,616 shares of the social networking company’s stock worth $1,905,000 after purchasing an additional 6,039 shares during the last quarter. Addison Capital Co grew its holdings in shares of Facebook by 52.3% in the 2nd quarter. Addison Capital Co now owns 9,853 shares of the social networking company’s stock worth $1,488,000 after purchasing an additional 3,382 shares during the last quarter. Finally, Heritage Investors Management Corp grew its holdings in shares of Facebook by 1.6% in the 2nd quarter. Heritage Investors Management Corp now owns 2,867 shares of the social networking company’s stock worth $433,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 57.76% of the company’s stock.

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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.

Analyst Recommendations for Facebook (NASDAQ:FB)

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