Facebook (NASDAQ:FB) Price Target Raised to $300.00 at Jefferies Financial Group

Facebook (NASDAQ:FB) had its price target increased by Jefferies Financial Group from $285.00 to $300.00 in a research report sent to investors on Friday, The Fly reports. Jefferies Financial Group currently has a buy rating on the social networking company’s stock.

FB has been the subject of several other research reports. Needham & Company LLC initiated coverage on shares of Facebook in a report on Thursday, July 2nd. They set a hold rating for the company. Citigroup raised their price target on Facebook from $245.00 to $275.00 and gave the company a buy rating in a report on Wednesday, May 27th. Cowen lifted their price objective on Facebook from $215.00 to $245.00 in a research note on Thursday, April 30th. Pivotal Research increased their target price on Facebook from $225.00 to $275.00 and gave the company a hold rating in a research report on Friday. Finally, Cfra lowered shares of Facebook from a buy rating to a hold rating in a report on Wednesday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $273.37.

FB stock traded up $19.17 during midday trading on Friday, hitting $253.67. The company’s stock had a trading volume of 53,030,037 shares, compared to its average volume of 19,530,204. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. Facebook has a 12 month low of $137.10 and a 12 month high of $255.85. The company has a 50 day moving average of $235.27 and a two-hundred day moving average of $207.59. The firm has a market capitalization of $722.73 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19.

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

In other news, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total value of $40,241.42. Following the completion of the transaction, the vice president now owns 406 shares in the company, valued at approximately $84,216.58. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CRO David B. Fischer sold 13,103 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $225.21, for a total value of $2,950,926.63. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,591 shares of company stock worth $14,894,825. Insiders own 14.14% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Wealth Management Group LLC grew its holdings in shares of Facebook by 0.5% during the second quarter. Strategic Wealth Management Group LLC now owns 9,152 shares of the social networking company’s stock worth $2,078,000 after buying an additional 43 shares during the last quarter. Genesee Capital Advisors LLC increased its stake in Facebook by 1.6% in the second quarter. Genesee Capital Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $632,000 after purchasing an additional 44 shares during the last quarter. Parisi Gray Wealth Management boosted its holdings in shares of Facebook by 0.5% in the 2nd quarter. Parisi Gray Wealth Management now owns 9,175 shares of the social networking company’s stock valued at $2,087,000 after purchasing an additional 44 shares during the last quarter. Retirement Network raised its holdings in shares of Facebook by 1.4% in the 1st quarter. Retirement Network now owns 3,519 shares of the social networking company’s stock worth $587,000 after purchasing an additional 48 shares during the period. Finally, Sun Life Financial INC raised its holdings in Facebook by 3.4% in the first quarter. Sun Life Financial INC now owns 1,465 shares of the social networking company’s stock valued at $244,000 after buying an additional 48 shares during the period. Institutional investors own 65.12% of the company’s stock.

About Facebook

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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