Facebook (NASDAQ:FB) had its price objective raised by KeyCorp from $330.00 to $340.00 in a report issued on Monday, AR Network reports. The firm currently has an overweight rating on the social networking company’s stock. KeyCorp also issued estimates for Facebook’s Q3 2020 earnings at $2.07 EPS, Q4 2020 earnings at $2.87 EPS, FY2020 earnings at $8.46 EPS, FY2021 earnings at $11.30 EPS and FY2022 earnings at $13.80 EPS.
A number of other brokerages also recently issued reports on FB. JPMorgan Chase & Co. restated a buy rating and issued a $300.00 price objective (up previously from $290.00) on shares of Facebook in a research note on Friday, July 31st. Argus upped their price objective on Facebook from $270.00 to $300.00 and gave the company a buy rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Facebook from $305.00 to $325.00 and gave the company a buy rating in a research note on Monday, October 12th. Mizuho upped their price objective on Facebook from $285.00 to $315.00 and gave the company a buy rating in a research note on Monday, August 10th. Finally, MKM Partners upped their price objective on Facebook from $240.00 to $290.00 in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $284.28.
Shares of Facebook stock opened at $280.83 on Monday. The stock has a fifty day simple moving average of $264.88 and a 200 day simple moving average of $241.45. Facebook has a 12-month low of $137.10 and a 12-month high of $304.67. The company has a market capitalization of $800.03 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 1.71 and a beta of 1.29.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 22.90% 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. On average, sell-side analysts anticipate that Facebook will post 8.12 EPS for the current fiscal year.
In other news, CAO Susan J.S. Taylor sold 1,133 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $261.39, for a total transaction of $296,154.87. Following the transaction, the chief accounting officer now directly owns 4,182 shares in the company, valued at approximately $1,093,132.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Michael Todd Schroepfer sold 112 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $262.09, for a total value of $29,354.08. Following the transaction, the chief technology officer now owns 498,238 shares in the company, valued at $130,583,197.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,487 shares of company stock worth $9,557,944. Insiders own 14.14% of the company’s stock.
Several institutional investors have recently made changes to their positions in FB. Watson Rebecca bought a new position in Facebook during the 2nd quarter worth approximately $25,000. Rocky Mountain Advisers LLC bought a new position in Facebook during the 3rd quarter worth approximately $26,000. JJJ Advisors Inc. grew its position in Facebook by 262.5% during the 2nd quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after acquiring an additional 105 shares during the last quarter. Carolina Wealth Advisors LLC grew its position in Facebook by 58.2% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 144 shares of the social networking company’s stock worth $38,000 after acquiring an additional 53 shares during the last quarter. Finally, Demars Financial Group LLC bought a new position in Facebook during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 65.31% of the company’s stock.
Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices 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 private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.
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