Facebook (NASDAQ:FB) PT Raised to $275.00 at Pivotal Research

Facebook (NASDAQ:FB) had its target price raised by equities researchers at Pivotal Research from $225.00 to $275.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “hold” rating on the social networking company’s stock. Pivotal Research’s target price points to a potential upside of 8.41% from the stock’s current price.

FB has been the subject of a number of other research reports. Bank of America restated a “buy” rating and set a $265.00 price target on shares of Facebook in a research note on Friday, June 26th. Guggenheim raised their price target on shares of Facebook from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Nomura Instinet raised their price target on shares of Facebook from $253.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Barclays lifted their target price on shares of Facebook from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Mizuho lifted their target price on shares of Facebook from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $273.37.

Shares of NASDAQ FB traded up $19.17 during mid-day trading on Friday, hitting $253.67. The company had a trading volume of 53,030,037 shares, compared to its average volume of 19,530,204. The firm has a market cap of $722.73 billion, a P/E ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. Facebook has a 12 month low of $137.10 and a 12 month high of $255.85. The business’s 50-day simple moving average is $235.27 and its 200-day simple moving average is $207.59.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.36. The firm had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 23.49%. As a group, sell-side analysts predict that Facebook will post 7.4 EPS for the current year.

In related news, CRO David B. Fischer sold 22,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the sale, the executive now directly owns 57,503 shares of the company’s stock, valued at approximately $11,804,790.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total transaction of $40,241.42. Following the completion of the sale, the vice president now directly owns 406 shares in the company, valued at $84,216.58. The disclosure for this sale can be found here. Insiders sold a total of 68,591 shares of company stock valued at $14,894,825 in the last three months. 14.14% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Wealth Management Group LLC lifted its position in Facebook by 0.5% in the 2nd quarter. Strategic Wealth Management Group LLC now owns 9,152 shares of the social networking company’s stock valued at $2,078,000 after acquiring an additional 43 shares in the last quarter. Genesee Capital Advisors LLC lifted its position in Facebook by 1.6% during the 2nd quarter. Genesee Capital Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $632,000 after buying an additional 44 shares in the last quarter. Parisi Gray Wealth Management lifted its position in Facebook by 0.5% during the 2nd quarter. Parisi Gray Wealth Management now owns 9,175 shares of the social networking company’s stock worth $2,087,000 after buying an additional 44 shares in the last quarter. Retirement Network lifted its position in Facebook by 1.4% during the 1st quarter. Retirement Network now owns 3,519 shares of the social networking company’s stock worth $587,000 after buying an additional 48 shares in the last quarter. Finally, Sun Life Financial INC lifted its position in Facebook by 3.4% during the 1st quarter. Sun Life Financial INC now owns 1,465 shares of the social networking company’s stock worth $244,000 after buying an additional 48 shares in the last quarter. 65.12% of the stock is currently owned by institutional investors and hedge funds.

Facebook Company Profile

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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