Tigress Financial Reaffirms “Buy” Rating for Facebook (NASDAQ:FB)


Tigress Financial reissued their buy rating on shares of Facebook (NASDAQ:FB) in a research note published on Friday, December 27th, TipRanks reports.

Several other brokerages have also recently issued reports on FB. HSBC initiated coverage on Facebook in a research report on Thursday, December 5th. They issued a reduce rating and a $178.00 target price on the stock. Royal Bank of Canada raised their target price on Facebook from $260.00 to $270.00 and gave the stock an outperform rating in a research report on Thursday, October 31st. Credit Suisse Group reissued an outperform rating and issued a $270.00 target price (up from $260.00) on shares of Facebook in a research report on Thursday, October 31st. Guggenheim reissued a hold rating on shares of Facebook in a research report on Tuesday, September 10th. Finally, Barclays dropped their target price on Facebook from $240.00 to $220.00 and set an overweight rating on the stock in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, forty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $238.37.

Facebook stock traded up $0.37 on Friday, hitting $222.14. 15,212,823 shares of the stock traded hands, compared to its average volume of 11,374,349. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.09. The firm has a market cap of $632.43 billion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 1.18 and a beta of 1.05. The business’s fifty day simple moving average is $206.54 and its 200 day simple moving average is $194.00. Facebook has a 1 year low of $142.52 and a 1 year high of $222.38.

READ  Coronavirus: 'Help our wonderful community come together to help our most vulnerable,' Pembrokeshire woman's Facebook group call

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.21. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The firm had revenue of $17.65 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the company earned $1.76 earnings per share. The company’s revenue was up 28.6% on a year-over-year basis. As a group, analysts predict that Facebook will post 8.5 earnings per share for the current year.

In other Facebook news, CAO Susan J.S. Taylor sold 1,133 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $198.58, for a total value of $224,991.14. Following the completion of the sale, the chief accounting officer now directly owns 1,505 shares in the company, valued at approximately $298,862.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $184.74, for a total value of $10,160,700.00. The disclosure for this sale can be found here. Insiders sold a total of 1,220,900 shares of company stock worth $231,834,951 in the last ninety days. 14.53% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC lifted its stake in shares of Facebook by 5,336.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock worth $4,341,794,000 after purchasing an additional 22,082,561 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Facebook by 36.5% during the 2nd quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock worth $6,764,908,000 after purchasing an additional 9,368,684 shares during the last quarter. Viking Global Investors LP lifted its stake in shares of Facebook by 231.7% during the 2nd quarter. Viking Global Investors LP now owns 7,063,705 shares of the social networking company’s stock worth $1,363,295,000 after purchasing an additional 4,934,406 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Facebook by 2.8% during the 2nd quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock worth $29,270,846,000 after purchasing an additional 4,114,043 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Facebook by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock worth $34,871,738,000 after purchasing an additional 3,465,756 shares during the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.

READ  These Developers Say It Took Three Years And A Chance Meeting To Get Facebook To Deal With Their Country's Fake News

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.

Featured Story: What is the Beige Book?

Analyst Recommendations for Facebook (NASDAQ:FB)



Receive News & Ratings for Facebook Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Facebook and related companies with MarketBeat.com’s FREE daily email newsletter.



READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here