Facebook (FB) Price Target Raised to $240.00 at SunTrust Banks

Facebook (NASDAQ:FB) had its price objective increased by stock analysts at SunTrust Banks to $240.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the social networking company’s stock. SunTrust Banks’ price objective indicates a potential upside of 33.29% from the company’s current price.

FB has been the topic of several other research reports. Credit Suisse Group reiterated an “outperform” rating and issued a $232.00 price target (up previously from $230.00) on shares of Facebook in a research note on Monday. Stifel Nicolaus cut Facebook from a “buy” rating to a “hold” rating in a research note on Friday. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $180.74 price target on the stock in a research note on Monday, September 25th. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 price target (up previously from $190.00) on shares of Facebook in a research note on Monday, October 2nd. Finally, Wells Fargo & Co set a $215.00 price target on Facebook and gave the stock a “buy” rating in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $203.72.

Shares of Facebook (NASDAQ FB) traded down $7.71 on Friday, hitting $180.06. The company’s stock had a trading volume of 39,720,000 shares, compared to its average volume of 16,580,000. The firm has a market capitalization of $523,220.00, a PE ratio of 33.47, a PEG ratio of 1.06 and a beta of 0.68. Facebook has a 12 month low of $124.80 and a 12 month high of $188.90.

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

In other Facebook news, CEO Mark Zuckerberg sold 238,715 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $178.03, for a total transaction of $42,498,431.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Todd Schroepfer sold 38,017 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $187.83, for a total value of $7,140,733.11. Following the transaction, the insider now directly owns 381,521 shares of the company’s stock, valued at $71,661,089.43. The disclosure for this sale can be found here. Insiders sold a total of 4,182,199 shares of company stock valued at $752,724,430 over the last three months. Corporate insiders own 17.23% of the company’s stock.

Large investors have recently made changes to their positions in the company. Country Trust Bank lifted its position in shares of Facebook by 550.6% during the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after acquiring an additional 479 shares during the last quarter. D. Scott Neal Inc. lifted its position in shares of Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after acquiring an additional 679 shares during the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Facebook in the third quarter valued at $111,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Facebook in the second quarter valued at $138,000. Finally, Vigilant Capital Management LLC lifted its holdings in shares of Facebook by 17.8% in the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock valued at $150,000 after purchasing an additional 150 shares in the last quarter. 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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