Facebook’s (FB) “Buy” Rating Reiterated at Goldman Sachs Group

Facebook (NASDAQ:FB)‘s stock had its “buy” rating reaffirmed by analysts at Goldman Sachs Group in a report released on Friday, The Fly reports. They currently have a $303.00 price target on the social networking company’s stock, up from their prior price target of $265.00. Goldman Sachs Group’s target price points to a potential upside of 19.45% from the company’s previous close.

FB has been the topic of a number of other research reports. Barclays upped their target price on Facebook from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Raymond James reissued a “buy” rating on shares of Facebook in a report on Monday, June 29th. Canaccord Genuity increased their target price on Facebook from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. BidaskClub cut Facebook from a “buy” rating to a “hold” rating in a report on Friday, July 24th. Finally, Citigroup increased their target price on Facebook from $245.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. One research 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 company. The company has a consensus rating of “Buy” and an average price target of $273.37.

Shares of FB traded up $19.17 during mid-day trading on Friday, reaching $253.67. The company had a trading volume of 53,030,037 shares, compared to its average volume of 19,530,204. Facebook has a 52-week low of $137.10 and a 52-week high of $255.85. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $722.73 billion, a P/E ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19. The stock has a 50 day moving average of $235.27 and a two-hundred day moving average of $207.59.

Facebook (NASDAQ:FB) last issued its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate 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, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $207.43, for a total transaction of $40,241.42. Following the sale, the vice president now owns 406 shares in the company, valued at $84,216.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Susan J.S. Taylor sold 1,195 shares of Facebook stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $223.39, for a total value of $266,951.05. Following the sale, the chief accounting officer now owns 3,147 shares in the company, valued at approximately $703,008.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,591 shares of company stock worth $14,894,825. 14.14% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in shares of Facebook by 1.2% during the first quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after purchasing an additional 1,132,053 shares in the last quarter. Capital International Investors increased its position in shares of Facebook by 14.1% during the first quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after purchasing an additional 6,394,036 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Facebook by 2.1% during the first quarter. Geode Capital Management LLC now owns 34,812,327 shares of the social networking company’s stock worth $5,794,733,000 after buying an additional 723,655 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Facebook by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 21,748,552 shares of the social networking company’s stock worth $3,627,657,000 after buying an additional 1,251,202 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Facebook by 6.9% during the first quarter. Alliancebernstein L.P. now owns 18,712,332 shares of the social networking company’s stock worth $3,121,217,000 after buying an additional 1,205,780 shares during 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.

Further Reading: What does the Producer Price Index (PPI) tell investors?

The Fly

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.