Raymond James Raises Facebook (NASDAQ:FB) Price Target to $280.00

Facebook (NASDAQ:FB) had its target price boosted by Raymond James from $240.00 to $280.00 in a report published on Friday, The Fly reports. They currently have a strong-buy rating on the social networking company’s stock. The analysts noted that the move was a valuation call.

A number of other brokerages have also commented on FB. Guggenheim upped their price objective on shares of Facebook from $235.00 to $245.00 and gave the company a buy rating in a research report on Thursday, April 30th. BMO Capital Markets restated a hold rating and set a $220.00 price objective on shares of Facebook in a research note on Monday, July 27th. BidaskClub cut Facebook from a buy rating to a hold rating in a research note on Friday, July 24th. Nomura Instinet raised their price target on shares of Facebook from $253.00 to $260.00 and gave the stock a buy rating in a research report on Thursday, April 30th. Finally, TheStreet raised shares of Facebook from a c+ rating to a b rating in a report on Thursday, April 30th. One investment 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 issued a strong buy rating to the stock. Facebook currently has an average rating of Buy and a consensus target price of $273.37.

Shares of NASDAQ:FB traded up $19.17 during 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 firm’s 50-day moving average price is $235.27 and its 200 day moving average price is $207.59. The firm has a market cap 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 has a 12-month low of $137.10 and a 12-month high of $255.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60.

Facebook (NASDAQ:FB) last posted its 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 for the quarter, compared to analyst estimates of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 23.49%. As a group, equities research analysts forecast that Facebook will post 7.36 EPS for the current year.

In other Facebook news, VP Jennifer Newstead sold 194 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 406 shares in the company, valued at approximately $84,216.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David M. Wehner sold 8,000 shares of Facebook stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $209.90, for a total transaction of $1,679,200.00. Following the sale, the chief financial officer now directly owns 24,484 shares of the company’s stock, valued at approximately $5,139,191.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,591 shares of company stock valued at $14,894,825. 14.14% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Sarasin & Partners LLP increased its position in Facebook by 223.4% during the second quarter. Sarasin & Partners LLP now owns 256,493 shares of the social networking company’s stock worth $58,242,000 after acquiring an additional 177,179 shares during the period. First American Bank grew its position in Facebook by 1.4% in the 1st quarter. First American Bank now owns 43,592 shares of the social networking company’s stock worth $7,271,000 after purchasing an additional 593 shares during the last quarter. Consolidated Investment Group LLC raised its position in shares of Facebook by 64.2% during the first quarter. Consolidated Investment Group LLC now owns 13,300 shares of the social networking company’s stock valued at $2,218,000 after buying an additional 5,200 shares during the last quarter. Donaldson Capital Management LLC raised its holdings in Facebook by 23.3% in the 2nd quarter. Donaldson Capital Management LLC now owns 1,596 shares of the social networking company’s stock valued at $362,000 after acquiring an additional 302 shares in the last quarter. Finally, Transform Wealth LLC increased its position in shares of Facebook by 6.3% during the first quarter. Transform Wealth LLC now owns 30,466 shares of the social networking company’s stock valued at $5,082,000 after purchasing an additional 1,807 shares during the period. 65.12% of the stock is currently owned by 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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