UBS Group Reiterates “$242.00” Price Target for Facebook (NASDAQ:FB)

UBS Group set a $242.00 price target on Facebook (NASDAQ:FB) in a report released on Wednesday morning, AnalystRatings.com reports. The firm currently has a buy rating on the social networking company’s stock.

Several other brokerages also recently commented on FB. Mizuho boosted their target price on Facebook from $220.00 to $245.00 and gave the stock a buy rating in a report on Thursday, April 30th. Monness Crespi & Hardt reduced their target price on Facebook from $260.00 to $230.00 and set a buy rating on the stock in a report on Wednesday, March 25th. Raymond James boosted their target price on Facebook from $215.00 to $240.00 and gave the stock a strong-buy rating in a report on Thursday, April 30th. Nomura Securities reaffirmed a buy rating and set a $253.00 price objective on shares of Facebook in a report on Sunday, March 29th. Finally, Cowen upped their price objective on Facebook from $215.00 to $245.00 in a report on Thursday, April 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, forty-one have issued a buy rating and two have assigned a strong buy rating to the company. Facebook currently has a consensus rating of Buy and a consensus target price of $240.98.

Shares of FB stock traded up $3.52 during trading hours on Wednesday, hitting $234.91. The company had a trading volume of 33,593,985 shares, compared to its average volume of 26,353,588. Facebook has a 12 month low of $137.10 and a 12 month high of $237.20. The firm has a market capitalization of $659.25 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 1.68 and a beta of 1.16. The firm’s fifty day moving average is $190.35 and its 200 day moving average is $196.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, April 29th. The social networking company reported $1.71 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.07). Facebook had a net margin of 28.57% and a return on equity of 21.54%. The company had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.25 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, sell-side analysts expect that Facebook will post 7.25 EPS for the current fiscal year.

In other Facebook news, CAO Susan J.S. Taylor sold 1,195 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total transaction of $266,951.05. Following the completion of the transaction, the chief accounting officer now owns 3,147 shares in the company, valued at approximately $703,008.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David M. Wehner sold 8,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $219.90, for a total value of $1,759,200.00. Following the transaction, the chief financial officer now owns 32,917 shares of the company’s stock, valued at approximately $7,238,448.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,199 shares of company stock valued at $13,967,456. Corporate insiders own 14.14% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in FB. Norges Bank bought a new position in shares of Facebook in the 4th quarter valued at about $5,429,501,000. Capital International Investors grew its holdings in shares of Facebook by 14.1% in the 1st quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock valued at $8,604,068,000 after acquiring an additional 6,394,036 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Facebook by 36.9% in the 1st quarter. Wellington Management Group LLP now owns 15,704,846 shares of the social networking company’s stock valued at $2,619,569,000 after acquiring an additional 4,236,566 shares in the last quarter. FMR LLC grew its holdings in shares of Facebook by 3.3% in the 4th quarter. FMR LLC now owns 123,422,389 shares of the social networking company’s stock valued at $25,332,445,000 after acquiring an additional 3,993,741 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Facebook by 1,141.8% in the 1st quarter. Fisher Asset Management LLC now owns 3,852,395 shares of the social networking company’s stock valued at $642,580,000 after acquiring an additional 3,542,165 shares in the last quarter. Institutional investors own 65.13% of the company’s stock.

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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