Goldman Sachs Group Boosts Facebook (NASDAQ:FB) Price Target to $265.00

Facebook (NASDAQ:FB) had its price target increased by Goldman Sachs Group from $250.00 to $265.00 in a research note released on Wednesday, The Fly reports. They currently have a buy rating on the social networking company’s stock. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on FB. JPMorgan Chase & Co. boosted their target price on Facebook from $215.00 to $240.00 in a research report on Thursday, April 30th. Pivotal Research raised shares of Facebook from a sell rating to a hold rating and upped their price target for the company from $167.00 to $225.00 in a research report on Thursday, April 30th. Nomura upped their price target on shares of Facebook from $253.00 to $260.00 in a research report on Thursday, April 30th. Bank of America upped their price target on shares of Facebook from $200.00 to $240.00 and gave the company a buy rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group set a $250.00 price target on shares of Facebook and gave the company a buy rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Facebook presently has a consensus rating of Buy and an average price target of $246.79.

Shares of Facebook stock opened at $216.08 on Wednesday. The stock has a market cap of $671.48 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 1.71 and a beta of 1.17. The firm’s 50-day moving average is $226.94 and its 200 day moving average is $202.27. Facebook has a 1 year low of $137.10 and a 1 year high of $245.19. 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 (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $1.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.07). The firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.25 billion. Facebook had a return on equity of 21.54% and a net margin of 28.57%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, equities analysts expect that Facebook will post 7.27 EPS for the current fiscal year.

In other Facebook news, CAO Susan J.S. Taylor sold 1,195 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $703,008.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Newstead sold 970 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $207.75, for a total value of $201,517.50. Following the transaction, the vice president now directly owns 600 shares of the company’s stock, valued at approximately $124,650. The disclosure for this sale can be found here. Insiders sold a total of 69,076 shares of company stock valued at $14,953,216 over the last ninety days. 14.14% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Camden Capital LLC acquired a new stake in shares of Facebook during the fourth quarter worth $1,531,000. Picton Mahoney Asset Management boosted its holdings in shares of Facebook by 11.8% during the fourth quarter. Picton Mahoney Asset Management now owns 102,425 shares of the social networking company’s stock worth $21,023,000 after purchasing an additional 10,825 shares during the last quarter. Highland Private Wealth Management boosted its holdings in shares of Facebook by 0.5% during the fourth quarter. Highland Private Wealth Management now owns 12,087 shares of the social networking company’s stock worth $2,481,000 after purchasing an additional 59 shares during the last quarter. Paradigm Financial Advisors LLC boosted its holdings in shares of Facebook by 9.4% during the fourth quarter. Paradigm Financial Advisors LLC now owns 19,150 shares of the social networking company’s stock worth $3,931,000 after purchasing an additional 1,646 shares during the last quarter. Finally, National Asset Management Inc. boosted its holdings in shares of Facebook by 1.8% during the fourth quarter. National Asset Management Inc. now owns 61,840 shares of the social networking company’s stock worth $12,695,000 after purchasing an additional 1,096 shares during the last quarter. 65.14% of the stock is owned by 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.

Further Reading: Limitations of the P/E Growth ratio

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