Facebook (NASDAQ:FB) Price Target Increased to $315.00 by Analysts at Credit Suisse Group

Facebook (NASDAQ:FB) had its price target boosted by Credit Suisse Group from $305.00 to $315.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the social networking company’s stock.

FB has been the topic of several other research reports. SunTrust Banks reiterated a buy rating and set a $285.00 price target (up previously from $245.00) on shares of Facebook in a report on Friday. Robert W. Baird lifted their target price on shares of Facebook from $240.00 to $300.00 in a report on Thursday, June 25th. JMP Securities boosted their target price on shares of Facebook from $250.00 to $305.00 and gave the stock an outperform rating in a research report on Friday. Loop Capital raised their price target on Facebook from $215.00 to $265.00 in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. reissued a buy rating and set a $300.00 price objective (up previously from $290.00) on shares of Facebook in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. Facebook currently has a consensus rating of Buy and a consensus target price of $273.37.

Facebook stock traded up $19.17 during mid-day trading on Friday, hitting $253.67. 53,030,037 shares of the company’s stock were exchanged, compared to its average volume of 19,530,204. Facebook has a 1-year low of $137.10 and a 1-year high of $255.85. The stock has a 50 day moving average of $235.27 and a two-hundred day moving average of $207.59. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.09. The stock has a market cap of $722.73 billion, a P/E ratio of 30.97, a P/E/G ratio of 1.68 and a beta of 1.19.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 23.49% and a net margin of 31.29%. The company had revenue of $18.69 billion during the quarter, compared to the consensus estimate of $17.29 billion. As a group, research analysts predict that Facebook will post 7.36 EPS for the current fiscal year.

In other Facebook news, VP Jennifer Newstead sold 194 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $207.43, for a total value of $40,241.42. Following the transaction, the vice president now owns 406 shares of the company’s stock, valued at $84,216.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Susan J.S. Taylor sold 1,195 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total value of $266,951.05. Following the sale, the chief accounting officer now owns 3,147 shares in the company, valued at approximately $703,008.33. The disclosure for this sale can be found here. Insiders have sold 68,591 shares of company stock worth $14,894,825 over the last ninety days. Insiders own 14.14% of the company’s stock.

A number of large investors have recently modified their holdings of the business. State Street Corp raised its stake in shares of Facebook by 1.2% in the first quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after acquiring an additional 1,132,053 shares during the last quarter. Capital International Investors increased its holdings in shares of Facebook by 14.1% in the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock valued at $8,604,068,000 after purchasing an additional 6,394,036 shares in the last quarter. Geode Capital Management LLC raised its position in Facebook by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 34,812,327 shares of the social networking company’s stock worth $5,794,733,000 after purchasing an additional 723,655 shares during the last quarter. Bank of New York Mellon Corp raised its position in Facebook by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 21,748,552 shares of the social networking company’s stock worth $3,627,657,000 after purchasing an additional 1,251,202 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Facebook by 6.9% during the 1st quarter. Alliancebernstein L.P. now owns 18,712,332 shares of the social networking company’s stock worth $3,121,217,000 after buying an additional 1,205,780 shares in the last quarter. 65.12% 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. 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 messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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