Oppenheimer Lowers Facebook (FB) Price Target to $185.00

Facebook (NASDAQ:FB) had its price objective trimmed by Oppenheimer from $200.00 to $185.00 in a report published on Wednesday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the social networking company’s stock. Oppenheimer also issued estimates for Facebook’s Q4 2018 earnings at $2.14 EPS, FY2018 earnings at $7.34 EPS, FY2019 earnings at $7.00 EPS and FY2020 earnings at $8.33 EPS.

A number of other research firms have also recently commented on FB. Raymond James cut Facebook from a strong-buy rating to an outperform rating and set a $210.00 price objective on the stock. in a report on Thursday, July 26th. Royal Bank of Canada reiterated a buy rating and issued a $195.00 price objective on shares of Facebook in a report on Monday, September 3rd. Stifel Nicolaus reiterated a buy rating and issued a $202.00 price objective on shares of Facebook in a report on Thursday, August 23rd. JPMorgan Chase & Co. upped their price objective on Facebook from $195.00 to $205.00 and gave the company an overweight rating in a report on Tuesday, September 18th. Finally, MKM Partners decreased their price objective on Facebook to $230.00 and set a buy rating on the stock in a report on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Facebook presently has an average rating of Buy and a consensus price target of $194.54.

FB stock opened at $150.35 on Wednesday. The company has a market capitalization of $436.77 billion, a PE ratio of 20.35, a P/E/G ratio of 0.92 and a beta of 0.55. Facebook has a 1 year low of $139.03 and a 1 year high of $218.62.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. The business had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The business’s revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share. As a group, sell-side analysts predict that Facebook will post 7.3 EPS for the current fiscal year.

In related news, CEO Mark Zuckerberg sold 602,000 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $176.67, for a total value of $106,355,340.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $180.72, for a total value of $9,939,600.00. The disclosure for this sale can be found here. Insiders have sold 3,416,282 shares of company stock worth $603,782,983 in the last ninety days. Corporate insiders own 17.23% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Commerce Bank grew its holdings in shares of Facebook by 1.4% during the first quarter. Commerce Bank now owns 379,115 shares of the social networking company’s stock worth $60,579,000 after purchasing an additional 5,299 shares during the last quarter. Adirondack Trust Co. boosted its stake in shares of Facebook by 10.9% during the first quarter. Adirondack Trust Co. now owns 6,611 shares of the social networking company’s stock worth $1,137,000 after buying an additional 648 shares during the period. Aviance Capital Partners LLC boosted its stake in shares of Facebook by 97.8% during the first quarter. Aviance Capital Partners LLC now owns 31,730 shares of the social networking company’s stock worth $5,070,000 after buying an additional 15,687 shares during the period. Zions Bancorporation acquired a new stake in shares of Facebook during the first quarter worth about $1,350,000. Finally, BerganKDV Wealth Management LLC acquired a new stake in shares of Facebook during the first quarter worth about $626,000. 60.30% of the stock is currently owned by hedge funds and other institutional investors.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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