Goldman Sachs Group Reiterates “Buy” Rating for Facebook (NASDAQ:FB)

Facebook (NASDAQ:FB)‘s stock had its “buy” rating reiterated by research analysts at Goldman Sachs Group in a research report issued to clients and investors on Friday, The Fly reports. They currently have a $303.00 price objective on the social networking company’s stock, up from their prior price objective of $265.00. Goldman Sachs Group’s price target would suggest a potential upside of 19.45% from the company’s current price.

Other research analysts have also issued research reports about the company. BMO Capital Markets reissued a “hold” rating and set a $220.00 price objective on shares of Facebook in a report on Monday, July 27th. Cfra lowered Facebook from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Citigroup boosted their price objective on Facebook from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Morgan Stanley boosted their price objective on Facebook from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Rosenblatt Securities boosted their price objective on Facebook from $244.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $273.37.

Shares of FB traded up $19.17 during midday trading on Friday, hitting $253.67. 53,030,037 shares of the company traded hands, compared to its average volume of 19,530,204. The stock has a 50-day moving average of $235.27 and a 200-day moving average of $207.59. Facebook has a one year low of $137.10 and a one year high of $255.85. The firm has a market cap of $722.73 billion, a P/E ratio of 30.97, a PEG ratio of 1.81 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.

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. Facebook had a return on equity of 23.49% and a net margin of 31.29%. The firm had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. Sell-side analysts forecast that Facebook will post 7.4 EPS for the current fiscal year.

In other news, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $207.43, for a total value of $40,241.42. Following the completion of the transaction, 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 available through the SEC website. Also, CFO David M. Wehner sold 8,000 shares of Facebook stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $209.90, for a total value of $1,679,200.00. Following the completion of the transaction, the chief financial officer now 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. Insiders have sold a total of 68,591 shares of company stock worth $14,894,825 in the last three months. 14.14% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in FB. Macquarie Group Ltd. boosted its holdings in shares of Facebook by 13.4% in the 4th quarter. Macquarie Group Ltd. now owns 736,299 shares of the social networking company’s stock worth $151,125,000 after purchasing an additional 87,024 shares during the period. IMS Capital Management boosted its holdings in Facebook by 7.4% during the 1st quarter. IMS Capital Management now owns 3,102 shares of the social networking company’s stock valued at $517,000 after acquiring an additional 215 shares during the period. Fulton Bank N.A. boosted its holdings in Facebook by 0.3% during the 1st quarter. Fulton Bank N.A. now owns 63,945 shares of the social networking company’s stock valued at $10,666,000 after acquiring an additional 221 shares during the period. Blackhawk Capital Partners LLC. boosted its holdings in Facebook by 5.2% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 12,136 shares of the social networking company’s stock valued at $2,491,000 after acquiring an additional 603 shares during the period. Finally, Nexus Investment Management Inc. boosted its holdings in Facebook by 0.9% during the 1st quarter. Nexus Investment Management Inc. now owns 108,880 shares of the social networking company’s stock valued at $18,161,000 after acquiring an additional 940 shares during the period. Hedge funds and other institutional investors 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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