Facebook (NASDAQ:FB) PT Raised to $285.00 at Morgan Stanley

Facebook (NASDAQ:FB) had its price objective raised by Morgan Stanley from $270.00 to $285.00 in a research report issued on Friday, MarketBeat reports. The firm currently has an “overweight” rating on the social networking company’s stock. Morgan Stanley’s target price would suggest a potential upside of 12.35% from the stock’s previous close.

Several other brokerages also recently issued reports on FB. Rosenblatt Securities lifted their target price on Facebook from $244.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Nomura Instinet raised their price target on Facebook from $253.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Guggenheim raised their price target on Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Canaccord Genuity raised their price target on Facebook from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Bank of America restated a “buy” rating and set a $265.00 price target on shares of Facebook in a report on Friday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $273.37.

FB traded up $19.17 on Friday, hitting $253.67. 53,030,037 shares of the company’s stock traded hands, compared to its average volume of 19,530,204. The company’s 50 day simple moving average is $235.27 and its 200-day simple moving average is $207.59. The firm has a market cap of $722.73 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 1.81 and a beta of 1.19. Facebook has a one year low of $137.10 and a one year high of $255.85. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09.

Facebook (NASDAQ:FB) last issued its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.36. The company had revenue of $18.69 billion for the quarter, compared to the consensus estimate of $17.29 billion. Facebook had a return on equity of 23.49% and a net margin of 31.29%. As a group, equities analysts anticipate that Facebook will post 7.4 EPS for the current fiscal year.

In other news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total value of $45,543.44. Following the completion of the transaction, the vice president now directly owns 1,918 shares of the company’s stock, valued at approximately $450,269.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David M. Wehner sold 8,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $209.90, for a total value of $1,679,200.00. Following the completion of the transaction, the chief financial officer now directly owns 24,484 shares of the company’s stock, valued at $5,139,191.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,591 shares of company stock valued at $14,894,825. Corporate insiders own 14.14% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FB. Comerica Bank grew its stake in Facebook by 4.6% during the 2nd quarter. Comerica Bank now owns 550,063 shares of the social networking company’s stock worth $131,943,000 after buying an additional 24,138 shares during the last quarter. Valmark Advisers Inc. grew its stake in Facebook by 100.7% during the 2nd quarter. Valmark Advisers Inc. now owns 4,896 shares of the social networking company’s stock worth $1,112,000 after buying an additional 2,456 shares during the last quarter. Dumont & Blake Investment Advisors LLC grew its stake in Facebook by 3.2% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 5,196 shares of the social networking company’s stock worth $1,180,000 after buying an additional 162 shares during the last quarter. Orgel Wealth Management LLC purchased a new position in Facebook during the 2nd quarter worth $454,000. Finally, Lincoln National Corp grew its stake in Facebook by 8.4% during the 2nd quarter. Lincoln National Corp now owns 21,683 shares of the social networking company’s stock worth $4,924,000 after buying an additional 1,673 shares during the last quarter. 65.12% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Facebook (NASDAQ:FB)

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