Facebook’s (FB) “Buy” Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their buy rating on shares of Facebook (NASDAQ:FB) in a report issued on Friday, The Fly reports. The brokerage currently has a $270.00 price objective on the social networking company’s stock, up from their previous price objective of $240.00.

Other equities research analysts have also recently issued research reports about the stock. Bank of America reissued a buy rating and set a $265.00 price target on shares of Facebook in a research report on Friday, June 26th. JMP Securities raised their target price on shares of Facebook from $215.00 to $250.00 and gave the stock an outperform rating in a research report on Thursday, April 30th. Jefferies Financial Group set a $250.00 target price on shares of Facebook and gave the stock a buy rating in a research report on Thursday, May 21st. Nomura raised their target price on shares of Facebook from $253.00 to $260.00 in a research report on Thursday, April 30th. Finally, Raymond James reaffirmed a buy rating on shares of Facebook in a research report on Monday, June 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. Facebook has an average rating of Buy and an average price target of $273.37.

FB traded up $19.17 during trading on Friday, hitting $253.67. 53,030,037 shares of the stock traded hands, compared to its average volume of 19,530,204. The firm has a market capitalization of $722.73 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 4.60. The firm has a 50-day moving average of $235.27 and a 200 day moving average of $207.59. Facebook has a 12-month low of $137.10 and a 12-month high of $255.85.

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

In other news, CRO David B. Fischer sold 22,000 shares of Facebook stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $234.76, for a total transaction of $45,543.44. Following the completion of the sale, the vice president now owns 1,918 shares of the company’s stock, valued at $450,269.68. 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 quarter. Company insiders own 14.14% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Watson Rebecca purchased a new position in shares of Facebook in the second quarter worth approximately $25,000. JJJ Advisors Inc. lifted its holdings in Facebook by 262.5% during the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 105 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Facebook during the first quarter valued at approximately $41,000. Elmwood Wealth Management Inc. purchased a new position in Facebook during the first quarter valued at approximately $46,000. Finally, NuWave Investment Management LLC lifted its holdings in Facebook by 1,019.2% during the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 265 shares in the last quarter. 65.12% of the stock is currently owned by institutional investors.

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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