Facebook (FB) Price Target Raised to $235.00 at Credit Suisse Group

Facebook (NASDAQ:FB) had its price target hoisted by Credit Suisse Group from $211.00 to $235.00 in a report issued on Thursday, The Fly reports. The brokerage presently has a “neutral” rating on the social networking company’s stock. Credit Suisse Group’s price target suggests a potential upside of 22.54% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Monness Crespi & Hardt reiterated a “buy” rating and issued a $250.00 price target (up from $225.00) on shares of Facebook in a research report on Thursday. Mizuho increased their target price on shares of Facebook from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird increased their target price on shares of Facebook from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday. Cleveland Research reissued a “buy” rating on shares of Facebook in a research note on Monday. Finally, Royal Bank of Canada set a $200.00 target price on shares of Facebook and gave the company a “buy” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating, five have given a hold rating and forty-one have issued a buy rating to the stock. Facebook currently has a consensus rating of “Buy” and an average target price of $206.26.

NASDAQ FB traded down $1.49 during trading hours on Thursday, hitting $191.77. 6,834,046 shares of the company’s stock traded hands, compared to its average volume of 19,429,098. The firm has a market capitalization of $533.88 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.34 and a beta of 0.88. Facebook has a 52 week low of $123.02 and a 52 week high of $218.62.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, April 24th. The social networking company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.80). The business had revenue of $15.08 billion for the quarter, compared to the consensus estimate of $14.97 billion. Facebook had a net margin of 39.60% and a return on equity of 27.51%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.69 earnings per share. Analysts predict that Facebook will post 7.55 EPS for the current fiscal year.

In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $179.60, for a total value of $134,700.00. Following the sale, the vice president now owns 100,872 shares of the company’s stock, valued at approximately $18,116,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,442 shares of Facebook stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $162.02, for a total transaction of $233,632.84. Following the completion of the sale, the chief accounting officer now directly owns 1,569 shares in the company, valued at approximately $254,209.38. The disclosure for this sale can be found here. Insiders sold a total of 1,539,435 shares of company stock worth $269,965,163 in the last three months. 14.53% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. boosted its stake in Facebook by 6.7% during the 3rd quarter. Pittenger & Anderson Inc. now owns 50,433 shares of the social networking company’s stock worth $8,294,000 after purchasing an additional 3,171 shares during the last quarter. Douglass Winthrop Advisors LLC boosted its stake in Facebook by 2.1% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 47,020 shares of the social networking company’s stock worth $7,733,000 after purchasing an additional 956 shares during the last quarter. Busey Trust CO boosted its stake in Facebook by 0.7% during the 3rd quarter. Busey Trust CO now owns 86,194 shares of the social networking company’s stock worth $14,175,000 after purchasing an additional 586 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of Facebook by 2.0% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 34,633 shares of the social networking company’s stock worth $5,696,000 after acquiring an additional 670 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management raised its holdings in shares of Facebook by 8.4% during the 3rd quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 4,574 shares of the social networking company’s stock worth $752,000 after acquiring an additional 355 shares during the period. 60.24% 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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