Facebook (FB) Earns Outperform Rating from Wells Fargo & Co

Facebook (NASDAQ:FB)‘s stock had its “outperform” rating reaffirmed by research analysts at Wells Fargo & Co in a research report issued on Monday, The Fly reports. They presently have a $230.00 target price on the social networking company’s stock, up from their prior target price of $215.00. Wells Fargo & Co’s price target suggests a potential upside of 22.43% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Goldman Sachs Group set a $205.00 target price on Facebook and gave the stock a “buy” rating in a research report on Friday, October 20th. Morgan Stanley set a $200.00 target price on Facebook and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Needham & Company LLC upped their target price on Facebook from $185.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Wedbush set a $225.00 target price on Facebook and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Canaccord Genuity upped their target price on Facebook from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $202.56.

Shares of Facebook (FB) traded down $0.41 during trading on Monday, reaching $187.87. The company’s stock had a trading volume of 12,391,700 shares, compared to its average volume of 15,480,017. The company has a market capitalization of $544,750.00, a PE ratio of 34.92, a P/E/G ratio of 1.06 and a beta of 0.68. Facebook has a 52-week low of $124.06 and a 52-week high of $188.90.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. analysts predict that Facebook will post 5.86 earnings per share for the current fiscal year.

In other Facebook news, VP David B. Fischer sold 4,699 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $171.53, for a total transaction of $806,019.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Colin Stretch sold 750 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $176.23, for a total value of $132,172.50. Following the transaction, the vice president now owns 82,096 shares of the company’s stock, valued at $14,467,778.08. The disclosure for this sale can be found here. Insiders sold 4,390,419 shares of company stock valued at $788,084,203 over the last 90 days. 17.23% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. D. Scott Neal Inc. grew its holdings in shares of Facebook by 1,358.0% during the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after purchasing an additional 679 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Facebook during the third quarter worth $111,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Facebook during the second quarter worth $138,000. Vigilant Capital Management LLC grew its holdings in shares of Facebook by 17.8% during the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock worth $150,000 after purchasing an additional 150 shares during the last quarter. Finally, Stelac Advisory Services LLC bought a new stake in shares of Facebook during the third quarter worth $152,000. Hedge funds and other institutional investors own 57.73% of the company’s stock.

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About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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