Facebook (NASDAQ:FB) Receives Buy Rating from SunTrust Banks

SunTrust Banks reaffirmed their buy rating on shares of Facebook (NASDAQ:FB) in a report published on Friday morning, Briefing.com Automated Import reports. The brokerage currently has a $285.00 target price on the social networking company’s stock, up from their prior target price of $245.00.

FB has been the topic of several other research reports. Bank of America reaffirmed a buy rating and issued a $265.00 price target on shares of Facebook in a report on Friday, June 26th. Citigroup raised their target price on shares of Facebook from $245.00 to $275.00 and gave the company a buy rating in a research note on Wednesday, May 27th. Goldman Sachs Group set a $265.00 price target on shares of Facebook and gave the stock a buy rating in a research note on Wednesday, July 22nd. BMO Capital Markets restated a hold rating and set a $220.00 price objective on shares of Facebook in a research report on Monday, July 27th. Finally, Loop Capital upped their target price on shares of Facebook from $215.00 to $265.00 in a research report on Friday, May 15th. One 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 assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $273.37.

Facebook stock traded up $19.17 during midday trading on Friday, reaching $253.67. 53,030,037 shares of the stock were exchanged, compared to its average volume of 19,530,204. The company’s fifty day moving average is $235.27 and its 200-day moving average is $207.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60. The firm has a market cap of $722.73 billion, a PE ratio of 30.97, a PEG ratio of 1.68 and a beta of 1.19. Facebook has a 52 week low of $137.10 and a 52 week high of $255.85.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.36. The firm had revenue of $18.69 billion during 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, sell-side 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 business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total transaction of $40,241.42. Following the sale, 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 accessible through this link. Also, CRO David B. Fischer sold 22,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $205.29, for a total transaction of $4,516,380.00. Following the completion of the sale, the executive now directly owns 57,503 shares in the company, valued at $11,804,790.87. The disclosure for this sale can be found here. Insiders sold 68,591 shares of company stock valued at $14,894,825 over the last 90 days. 14.14% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FB. Sarasin & Partners LLP boosted its stake in Facebook by 223.4% in the 2nd quarter. Sarasin & Partners LLP now owns 256,493 shares of the social networking company’s stock worth $58,242,000 after purchasing an additional 177,179 shares in the last quarter. First American Bank increased its position in shares of Facebook by 1.4% during the first quarter. First American Bank now owns 43,592 shares of the social networking company’s stock valued at $7,271,000 after acquiring an additional 593 shares in the last quarter. Consolidated Investment Group LLC lifted its position in Facebook by 64.2% in the 1st quarter. Consolidated Investment Group LLC now owns 13,300 shares of the social networking company’s stock valued at $2,218,000 after acquiring an additional 5,200 shares in the last quarter. Donaldson Capital Management LLC boosted its stake in Facebook by 23.3% during the 2nd quarter. Donaldson Capital Management LLC now owns 1,596 shares of the social networking company’s stock valued at $362,000 after purchasing an additional 302 shares during the last quarter. Finally, Transform Wealth LLC raised its stake in shares of Facebook by 6.3% in the first quarter. Transform Wealth LLC now owns 30,466 shares of the social networking company’s stock worth $5,082,000 after purchasing an additional 1,807 shares during the last quarter. Institutional investors and hedge funds own 65.12% of the company’s stock.

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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Analyst Recommendations for Facebook (NASDAQ:FB)

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