JPMorgan Chase & Co. Reiterates “$230.00” Price Target for Facebook (FB)

JPMorgan Chase & Co. set a $230.00 price target on Facebook (NASDAQ:FB) in a research note issued to investors on Monday morning. The brokerage currently has a buy rating on the social networking company’s stock.

Several other research analysts have also issued reports on the company. Credit Suisse Group raised their price target on Facebook from $230.00 to $232.00 and gave the stock an outperform rating in a research report on Monday. Cowen reiterated a buy rating and set a $220.00 target price on shares of Facebook in a report on Thursday, January 4th. Vetr lowered Facebook from a strong-buy rating to a buy rating and set a $203.53 target price on the stock. in a report on Wednesday, January 3rd. Canaccord Genuity reiterated a buy rating and set a $230.00 target price on shares of Facebook in a report on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded Facebook from a hold rating to a buy rating and set a $198.00 target price on the stock in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, forty-two have given a buy rating and four have given a strong buy rating to the company’s stock. Facebook currently has a consensus rating of Buy and a consensus price target of $202.86.

Facebook (NASDAQ:FB) traded down $0.07 during midday trading on Monday, hitting $187.77. The stock had a trading volume of 7,760,566 shares, compared to its average volume of 14,771,929. The firm has a market cap of $545,100.00, a PE ratio of 34.90, a P/E/G ratio of 1.06 and a beta of 0.68. Facebook has a one year low of $124.06 and a one year high of $188.90.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.31. The company 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 business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the firm earned $1.09 EPS. equities analysts predict that Facebook will post 5.86 earnings per share for the current year.

In other news, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $175.20, for a total transaction of $2,803,200.00. Following the completion of the sale, the insider now directly owns 172,871 shares of the company’s stock, valued at approximately $30,286,999.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $172.43, for a total transaction of $129,322.50. Following the sale, the vice president now directly owns 89,916 shares of the company’s stock, valued at $15,504,215.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,144,182 shares of company stock valued at $745,583,697. Company insiders own 17.23% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FB. Jericho Capital Asset Management L.P. bought a new stake in shares of Facebook in the 1st quarter worth about $94,601,000. Kovitz Investment Group Partners LLC purchased a new position in Facebook during the 1st quarter valued at about $577,000. Driehaus Capital Management LLC grew its position in shares of Facebook by 12.4% in the 1st quarter. Driehaus Capital Management LLC now owns 2,477 shares of the social networking company’s stock worth $352,000 after buying an additional 273 shares during the last quarter. Oak Associates Ltd. OH grew its position in shares of Facebook by 18.6% in the 1st quarter. Oak Associates Ltd. OH now owns 219,915 shares of the social networking company’s stock worth $31,239,000 after buying an additional 34,535 shares during the last quarter. Finally, First City Capital Management Inc. purchased a new position in shares of Facebook in the 1st quarter worth approximately $238,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

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Facebook Company Profile

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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