Wedbush Comments on Facebook Inc’s Q3 2019 Earnings (FB)

Facebook Inc (NASDAQ:FB) – Research analysts at Wedbush issued their Q3 2019 earnings per share estimates for Facebook in a research report issued to clients and investors on Thursday. Wedbush analyst M. Pachter anticipates that the social networking company will post earnings per share of $2.41 for the quarter. Wedbush currently has a “Outperform” rating and a $260.00 target price on the stock.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The firm had revenue of $12.97 billion during the quarter, compared to analyst estimates of $12.58 billion.

A number of other equities analysts have also commented on FB. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Facebook in a research note on Thursday, February 1st. KeyCorp reaffirmed an “overweight” rating and issued a $245.00 price objective (up previously from $220.00) on shares of Facebook in a research note on Thursday, February 1st. Morningstar set a $198.00 price objective on shares of Facebook and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Vetr lowered shares of Facebook from a “strong-buy” rating to a “buy” rating and set a $209.00 price objective for the company. in a research note on Tuesday, January 30th. Finally, Barclays raised their price objective on shares of Facebook from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, forty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $214.59.

Facebook (FB) traded down $3.47 during trading on Monday, reaching $181.85. 17,136,797 shares of the company were exchanged, compared to its average volume of 23,230,000. Facebook has a 1 year low of $131.66 and a 1 year high of $195.32. The firm has a market cap of $529,750.00, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 0.94 and a beta of 0.58.

A number of institutional investors and hedge funds have recently made changes to their positions in FB. Palisade Capital Management LLC NJ raised its stake in shares of Facebook by 2.4% during the second quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock worth $3,904,000 after buying an additional 602 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Facebook by 4.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock worth $1,128,745,000 after purchasing an additional 349,182 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Facebook by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,610 shares of the social networking company’s stock worth $26,514,000 after purchasing an additional 907 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in Facebook by 2.9% during the third quarter. Xact Kapitalforvaltning AB now owns 424,191 shares of the social networking company’s stock worth $72,482,000 after purchasing an additional 11,940 shares during the last quarter. Finally, Birinyi Associates Inc. boosted its holdings in Facebook by 11.7% during the second quarter. Birinyi Associates Inc. now owns 30,500 shares of the social networking company’s stock worth $4,605,000 after purchasing an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 57.80% of the company’s stock.

In related news, Director Jan Koum sold 594,246 shares of Facebook stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $179.35, for a total value of $106,578,020.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David B. Fischer sold 5,587 shares of Facebook stock in a transaction on Friday, January 26th. The stock was sold at an average price of $187.66, for a total transaction of $1,048,456.42. The disclosure for this sale can be found here. Insiders have sold a total of 1,548,013 shares of company stock worth $278,500,923 in the last 90 days. 17.23% of the stock is owned by insiders.

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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.

Earnings History and Estimates for Facebook (NASDAQ:FB)

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