Facebook (NASDAQ:FB) PT Raised to $280.00 at Raymond James

Facebook (NASDAQ:FB) had its price objective hoisted by equities research analysts at Raymond James from $240.00 to $280.00 in a note issued to investors on Friday, The Fly reports. The brokerage presently has a “strong-buy” rating on the social networking company’s stock. Raymond James’ price target would suggest a potential upside of 10.38% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other research firms have also commented on FB. Argus lifted their price target on Facebook from $220.00 to $240.00 in a research report on Monday, May 4th. Cowen raised their price target on Facebook from $215.00 to $245.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $300.00 price objective (up from $290.00) on shares of Facebook in a research note on Friday. Robert W. Baird increased their target price on shares of Facebook from $240.00 to $300.00 in a research note on Thursday, June 25th. Finally, Credit Suisse Group upped their price target on shares of Facebook from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday. 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’s stock. Facebook currently has an average rating of “Buy” and an average target price of $273.37.

Shares of FB opened at $253.67 on Friday. 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 stock has a market capitalization of $722.73 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. Facebook has a 1 year low of $137.10 and a 1 year high of $255.85. The business’s 50 day simple moving average is $235.27 and its 200-day simple moving average is $207.59.

Facebook (NASDAQ:FB) last released its quarterly earnings data 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. Facebook had a net margin of 31.29% and a return on equity of 23.49%. The business had revenue of $18.69 billion during the quarter, compared to analyst estimates of $17.29 billion. On average, sell-side analysts expect that Facebook will post 7.4 earnings per share for the current year.

In other news, CRO David B. Fischer sold 22,000 shares of Facebook stock in a transaction on Friday, May 15th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Susan J.S. Taylor sold 1,195 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $223.39, for a total transaction of $266,951.05. Following the sale, the chief accounting officer now directly owns 3,147 shares in the company, valued at $703,008.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,591 shares of company stock worth $14,894,825. 14.14% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Sarasin & Partners LLP lifted 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 valued at $58,242,000 after purchasing an additional 177,179 shares during the period. First American Bank boosted its stake in shares of Facebook by 1.4% in the first quarter. First American Bank now owns 43,592 shares of the social networking company’s stock worth $7,271,000 after buying an additional 593 shares during the last quarter. Consolidated Investment Group LLC boosted its stake in shares of Facebook by 64.2% in the first quarter. Consolidated Investment Group LLC now owns 13,300 shares of the social networking company’s stock worth $2,218,000 after buying an additional 5,200 shares during the last quarter. Donaldson Capital Management LLC grew its holdings in Facebook by 23.3% during the second quarter. Donaldson Capital Management LLC now owns 1,596 shares of the social networking company’s stock worth $362,000 after acquiring an additional 302 shares during the period. Finally, Transform Wealth LLC raised its position in 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 acquiring an additional 1,807 shares in 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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