Facebook’s (FB) “Buy” Rating Reaffirmed at Canaccord Genuity

Facebook (NASDAQ:FB)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a research report issued on Friday, AnalystRatings.com reports. They currently have a $290.00 price target on the social networking company’s stock, up from their prior price target of $275.00. Canaccord Genuity’s price target points to a potential upside of 14.32% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. BMO Capital Markets reiterated a “hold” rating and issued a $220.00 target price on shares of Facebook in a research note on Monday, July 27th. Cowen boosted their price target on Facebook from $215.00 to $245.00 in a research note on Thursday, April 30th. Jefferies Financial Group set a $250.00 target price on Facebook and gave the company a “buy” rating in a research report on Thursday, May 21st. Oppenheimer reiterated a “buy” rating and issued a $270.00 target price (up previously from $240.00) on shares of Facebook in a research report on Friday. Finally, Mizuho upped their target price on Facebook from $245.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $273.37.

FB traded up $19.17 during trading on Friday, reaching $253.67. 53,030,037 shares of the company traded hands, compared to its average volume of 19,530,204. 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 has a 12-month low of $137.10 and a 12-month high of $255.85. The firm has a fifty day simple moving average of $235.27 and a 200 day simple moving average of $207.59. The company 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.

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

In related news, VP Jennifer Newstead sold 194 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $207.43, for a total value of $40,241.42. Following the completion of the transaction, the vice president now directly owns 406 shares of the company’s stock, valued at approximately $84,216.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO David B. Fischer sold 22,000 shares of the 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 completion of the transaction, the executive now directly owns 57,503 shares of the company’s stock, valued at $11,804,790.87. 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. 14.14% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Comerica Bank grew its holdings in Facebook by 4.6% in the 2nd quarter. Comerica Bank now owns 550,063 shares of the social networking company’s stock valued at $131,943,000 after buying an additional 24,138 shares in the last quarter. Valmark Advisers Inc. grew its holdings in Facebook by 100.7% in the 2nd quarter. Valmark Advisers Inc. now owns 4,896 shares of the social networking company’s stock valued at $1,112,000 after buying an additional 2,456 shares in the last quarter. Dumont & Blake Investment Advisors LLC grew its holdings in Facebook by 3.2% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 5,196 shares of the social networking company’s stock valued at $1,180,000 after buying an additional 162 shares in the last quarter. Orgel Wealth Management LLC purchased a new stake in Facebook in the 2nd quarter valued at $454,000. Finally, Lincoln National Corp grew its holdings in Facebook by 8.4% in the 2nd quarter. Lincoln National Corp now owns 21,683 shares of the social networking company’s stock valued at $4,924,000 after buying an additional 1,673 shares in the last quarter. Institutional investors own 65.12% 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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