Facebook Inc (FB) Receives "Buy" Rating from Bank of America

Facebook Inc (NASDAQ:FB)‘s stock had its “buy” rating restated by Bank of America in a research note issued to investors on Sunday, AnalystRatings.NET reports. They presently have a $140.00 price objective on the social networking company’s stock, up from their previous price objective of $130.00. Bank of America’s price target suggests a potential upside of 24.77% from the stock’s previous close.

A number of hedge funds recently bought and sold shares of FB. Beacon Capital Management raised its stake in Facebook by 2.0% in the fourth quarter. Beacon Capital Management now owns 102 shares of the social networking company’s stock worth $11,000 after buying an additional 2 shares in the last quarter. Integrated Wealth Management raised its stake in Facebook by 0.3% in the fourth quarter. Integrated Wealth Management now owns 11,462 shares of the social networking company’s stock worth $1,200,000 after buying an additional 35 shares in the last quarter. Prentiss Smith Co. Inc. raised its stake in Facebook by 0.5% in the fourth quarter. Prentiss Smith Co. Inc. now owns 7,038 shares of the social networking company’s stock worth $737,000 after buying an additional 38 shares in the last quarter. Campbell Newman Asset Management raised its stake in Facebook by 0.5% in the fourth quarter. Campbell Newman Asset Management now owns 8,762 shares of the social networking company’s stock worth $917,000 after buying an additional 45 shares in the last quarter. Finally, Mathes Company Inc. raised its stake in Facebook by 0.8% in the fourth quarter. Mathes Company Inc. now owns 6,325 shares of the social networking company’s stock worth $662,000 after buying an additional 50 shares in the last quarter.

In related news, CAO Jas Athwal sold 3,901 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $102.00, for a total value of $397,902.00. Following the completion of the sale, the chief accounting officer now owns 114,908 shares in the company, valued at $11,720,616. The sale was disclosed in a document filed with the Securities Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $103.35, for a total value of $103,350.00. Following the completion of the sale, the vice president now owns 77,924 shares of the company’s stock, valued at approximately $8,053,445.40. The disclosure for this sale can be found here.

Facebook (NASDAQ:FB) opened at 112.21 on Friday. The company has a 50 day moving average price of $101.61 and a 200-day moving average price of $98.05. The company has a market cap of $316.99 billion and a PE ratio of 86.98. Facebook has a 12 month low of $72.00 and a 12 month high of $112.84.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, January 27th. The social networking company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.11. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.36 billion. The company’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS. Equities analysts predict that Facebook will post $3.14 earnings per share for the current fiscal year.

Several other research firms have also recently weighed in on FB. Evercore ISI reissued a “buy” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Facebook in a research report on Saturday. Macquarie reissued an “outperform” rating and issued a $150.00 price objective (up previously from $120.00) on shares of Facebook in a research report on Saturday. Raymond James reissued an “outperform” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Facebook in a research report on Saturday. Oppenheimer reissued an “outperform” rating on shares of Facebook in a research report on Saturday. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Facebook in a research report on Saturday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and forty-eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $127.33.

Facebook, Inc. is a social networking company. The Company is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It offers various services focused on people, marketers and developers. It offers various platforms for people to share their opinions, ideas, photos and videos, and to engage in other activities. Its products include Facebook, Instagram, Messenger and WhatsApp. The Facebook mobile app and Website enables people to connect, share, discover and communicate with each other on mobile devices and personal computers. Its Messenger is a mobile-to-mobile messaging application available on iOS and Android phones. Instagram is a mobile application and Website that enables people to take photos or videos, and share them with friends and followers. WhatsApp Messenger is a cross-platform mobile messaging application and allows people to exchange messages on iOS, Android, BlackBerry, Windows Phone and Nokia devices.

This story was originally published by EMQ (http://www.emqtv.com) and is the sole property of EMQ. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.emqtv.com/facebook-inc-fb-receives-buy-rating-from-bank-of-america/179285/

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

Open all references in tabs: [1 – 4]

Tags:

Sunday, January 31st, 2016 EN

No comments yet.

Leave a comment

You must be logged in to post a comment.