Facebook (NASDAQ:FB) Given “Buy” Rating at Citigroup

Citigroup restated their buy rating on shares of Facebook (NASDAQ:FB) in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have a $240.00 price objective on the social networking company’s stock.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. reiterated a buy rating and set a $255.00 target price on shares of Facebook in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price objective on Facebook from $260.00 to $270.00 and gave the stock an outperform rating in a report on Thursday, October 31st. Deutsche Bank boosted their target price on Facebook from $230.00 to $260.00 and gave the stock a buy rating in a research report on Thursday, October 31st. They noted that the move was a valuation call. Wedbush lowered their target price on shares of Facebook from $265.00 to $250.00 and set an outperform rating on the stock in a research note on Thursday, October 31st. Finally, Jefferies Financial Group reaffirmed a buy rating and set a $250.00 price target on shares of Facebook in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $229.19.

Shares of NASDAQ FB opened at $198.82 on Tuesday. The firm’s 50 day moving average price is $193.20 and its 200-day moving average price is $188.31. The company has a market cap of $566.98 billion, a PE ratio of 26.26, a P/E/G ratio of 1.13 and a beta of 1.05. Facebook has a 52-week low of $123.02 and a 52-week high of $208.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.21. The firm had revenue of $17.65 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Facebook had a net margin of 27.08% and a return on equity of 20.39%. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.76 earnings per share. On average, analysts forecast that Facebook will post 8.61 earnings per share for the current fiscal year.

In other Facebook news, CEO Mark Zuckerberg sold 125,600 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $187.53, for a total value of $23,553,768.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jennifer Newstead sold 260 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $200.01, for a total value of $52,002.60. Following the completion of the sale, the vice president now owns 2,866 shares of the company’s stock, valued at approximately $573,228.66. The disclosure for this sale can be found here. Insiders sold a total of 3,541,528 shares of company stock valued at $658,937,352 over the last three months. 14.53% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in FB. Cavalier Investments LLC increased its holdings in shares of Facebook by 99.9% in the 3rd quarter. Cavalier Investments LLC now owns 1,925 shares of the social networking company’s stock worth $343,000 after buying an additional 962 shares during the last quarter. Martin Investment Management LLC increased its stake in Facebook by 5.2% during the third quarter. Martin Investment Management LLC now owns 66,928 shares of the social networking company’s stock worth $11,919,000 after acquiring an additional 3,294 shares during the last quarter. Green Square Asset Management LLC increased its stake in Facebook by 288.0% during the second quarter. Green Square Asset Management LLC now owns 14,187 shares of the social networking company’s stock worth $2,738,000 after acquiring an additional 10,531 shares during the last quarter. Fiduciary Financial Services of The Southwest Inc. TX increased its stake in Facebook by 1.7% during the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 12,236 shares of the social networking company’s stock worth $2,362,000 after acquiring an additional 206 shares during the last quarter. Finally, Fayez Sarofim & Co raised its position in Facebook by 1.0% during the second quarter. Fayez Sarofim & Co now owns 3,190,182 shares of the social networking company’s stock valued at $615,707,000 after purchasing an additional 32,734 shares during the period. Institutional investors and hedge funds own 63.81% 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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Analyst Recommendations for Facebook (NASDAQ:FB)

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