Facebook (NASDAQ:FB) Price Target Raised to $230.00

Facebook (NASDAQ:FB) had its price objective lifted by Deutsche Bank from $220.00 to $230.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. They currently have a buy rating on the social networking company’s stock.

A number of other research firms also recently issued reports on FB. Wedbush reiterated an outperform rating on shares of Alphabet in a research note on Thursday, April 25th. Cowen lifted their price target on ServiceNow from $260.00 to $280.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Zacks Investment Research downgraded Wix.Com from a hold rating to a sell rating in a research note on Monday, April 8th. Moffett Nathanson upgraded Facebook from a neutral rating to a buy rating and set a $210.00 price target for the company in a research note on Tuesday, June 11th. Finally, Raymond James downgraded Consolidated Communications to a market perform rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and forty-three have assigned a buy rating to the company’s stock. Facebook presently has a consensus rating of Buy and a consensus target price of $212.04.

Facebook stock traded up $0.46 during midday trading on Tuesday, reaching $201.24. The stock had a trading volume of 159,818 shares, compared to its average volume of 13,446,715. Facebook has a 12 month low of $123.02 and a 12 month high of $218.62. The company has a market cap of $575.78 billion, a P/E ratio of 26.61, a P/E/G ratio of 1.25 and a beta of 0.97. The business has a fifty day moving average price of $187.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.38 and a quick ratio of 5.38.



Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, April 24th. The social networking company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.80). Facebook had a net margin of 33.17% and a return on equity of 23.67%. The firm had revenue of $15.08 billion during the quarter, compared to the consensus estimate of $14.97 billion. During the same period in the previous year, the firm earned $1.69 earnings per share. The business’s quarterly revenue was up 26.0% on a year-over-year basis. On average, equities analysts expect that Facebook will post 8 EPS for the current year.

In other Facebook news, insider Susan J.S. Taylor sold 1,472 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $181.89, for a total transaction of $267,742.08. Following the sale, the insider now owns 569 shares of the company’s stock, valued at approximately $103,495.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $195.13, for a total transaction of $10,732,150.00. The disclosure for this sale can be found here. Insiders sold a total of 332,230 shares of company stock worth $61,571,002 in the last ninety days. 14.53% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. increased its holdings in shares of Facebook by 153.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 200 shares of the social networking company’s stock worth $26,000 after purchasing an additional 121 shares during the period. Whitnell & Co. bought a new position in shares of Facebook in the fourth quarter worth $26,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Facebook in the fourth quarter worth $31,000. Cordasco Financial Network increased its holdings in shares of Facebook by 70.0% in the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after purchasing an additional 70 shares during the period. Finally, Signet Investment Advisory Group Inc. bought a new position in shares of Facebook in the fourth quarter worth $39,000. 61.76% of the stock is currently owned by institutional investors and hedge funds.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Analyst Recommendations for Facebook (NASDAQ:FB)

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