Royal Bank of Canada Raises Facebook (NASDAQ:FB) Price Target to $320.00

Facebook (NASDAQ:FB) had its price target increased by equities researchers at Royal Bank of Canada from $271.00 to $320.00 in a research note issued on Friday, The Fly reports. The firm presently has an “outperform” rating on the social networking company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 26.15% from the stock’s current price.

A number of other analysts have also issued reports on FB. Barclays boosted their price objective on Facebook from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday. Credit Suisse Group boosted their price objective on Facebook from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus boosted their price objective on Facebook from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Mizuho boosted their price objective on Facebook from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, DZ Bank reiterated a “buy” rating on shares of Facebook in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $273.37.

Shares of FB opened at $253.67 on Friday. The firm has a market cap of $722.73 billion, a PE ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19. The stock’s fifty day moving average price is $235.27 and its two-hundred day moving average price is $207.59. 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 1 year low of $137.10 and a 1 year high of $255.85.

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 Thomson Reuters’ consensus estimate of $1.44 by $0.36. The firm had revenue of $18.69 billion for the quarter, compared to analyst estimates of $17.29 billion. Facebook had a return on equity of 23.49% and a net margin of 31.29%. Sell-side analysts anticipate that Facebook will post 7.4 earnings per share for the current fiscal year.

In other Facebook news, CRO David B. Fischer sold 22,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the sale, the executive now directly owns 57,503 shares in the company, valued at approximately $11,804,790.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jennifer Newstead sold 194 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total value of $40,241.42. Following the sale, the vice president now owns 406 shares in the company, valued at $84,216.58. The disclosure for this sale can be found here. In the last ninety days, insiders have 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 institutional investors and hedge funds have recently modified their holdings of FB. State Street Corp boosted its stake in shares of Facebook by 1.2% in the 1st quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after buying an additional 1,132,053 shares during the last quarter. Capital International Investors boosted its stake in shares of Facebook by 14.1% in the 1st quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after buying an additional 6,394,036 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Facebook by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 34,812,327 shares of the social networking company’s stock worth $5,794,733,000 after buying an additional 723,655 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Facebook by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 21,748,552 shares of the social networking company’s stock worth $3,627,657,000 after purchasing an additional 1,251,202 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Facebook by 6.9% in the 1st quarter. Alliancebernstein L.P. now owns 18,712,332 shares of the social networking company’s stock worth $3,121,217,000 after purchasing an additional 1,205,780 shares during the period. Institutional investors and hedge funds 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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The Fly

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