Wedbush Trims Facebook (FB) Target Price to $200.00

Facebook (NASDAQ:FB) had its target price dropped by stock analysts at Wedbush to $200.00 in a report issued on Monday, February 4th. The firm presently has a “buy” rating on the social networking company’s stock. Wedbush’s price target would suggest a potential upside of 23.24% from the company’s previous close. Wedbush also issued estimates for Facebook’s Q1 2019 earnings at $1.92 EPS, Q2 2019 earnings at $2.04 EPS, Q3 2019 earnings at $2.05 EPS, Q4 2019 earnings at $2.49 EPS, FY2019 earnings at $8.50 EPS, Q1 2020 earnings at $2.24 EPS, Q2 2020 earnings at $2.37 EPS, Q3 2020 earnings at $2.39 EPS, Q4 2020 earnings at $3.00 EPS and FY2020 earnings at $10.00 EPS.

FB has been the subject of several other reports. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $187.00 target price for the company in a research report on Monday, February 4th. BidaskClub raised Facebook from a “hold” rating to a “buy” rating in a research report on Saturday, February 2nd. Argus reaffirmed a “buy” rating on shares of Facebook in a research report on Friday, February 1st. CIBC reaffirmed an “outperform” rating and issued a $195.00 target price (up from $185.00) on shares of Facebook in a research report on Thursday, January 31st. Finally, Pivotal Research reissued a “sell” rating and set a $120.00 price objective (up from $113.00) on shares of Facebook in a report on Thursday, January 31st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and thirty-nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $190.62.

FB stock traded up $0.83 during midday trading on Monday, hitting $162.28. 11,022,057 shares of the company traded hands, compared to its average volume of 20,363,168. Facebook has a twelve month low of $123.02 and a twelve month high of $218.62. The company has a market cap of $470.29 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, January 30th. The social networking company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.18 by $0.20. The company had revenue of $16.91 billion for the quarter, compared to the consensus estimate of $16.40 billion. Facebook had a return on equity of 27.51% and a net margin of 39.60%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 earnings per share. On average, sell-side analysts expect that Facebook will post 7.55 earnings per share for the current fiscal year.

In related news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $171.21, for a total transaction of $128,407.50. Following the transaction, the vice president now directly owns 93,930 shares of the company’s stock, valued at approximately $16,081,755.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan J.S. Taylor sold 2,112 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $139.60, for a total value of $294,835.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 386,773 shares of company stock worth $57,667,670. Company insiders own 16.25% of the company’s stock.

Several hedge funds have recently bought and sold shares of FB. Oregon Public Employees Retirement Fund increased its holdings in shares of Facebook by 13,908.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 70,768,412 shares of the social networking company’s stock worth $540,000 after acquiring an additional 70,263,213 shares during the last quarter. Fundsmith Equity Fund L.P. acquired a new position in Facebook in the 2nd quarter valued at $1,072,219,000. Polen Capital Management LLC grew its holdings in Facebook by 88.2% in the 4th quarter. Polen Capital Management LLC now owns 7,354,192 shares of the social networking company’s stock valued at $964,061,000 after buying an additional 3,445,879 shares in the last quarter. Altimeter Capital Management LP grew its holdings in Facebook by 426.2% in the 4th quarter. Altimeter Capital Management LP now owns 3,368,000 shares of the social networking company’s stock valued at $441,511,000 after buying an additional 2,727,900 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Facebook by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 31,772,199 shares of the social networking company’s stock valued at $4,157,898,000 after buying an additional 2,203,076 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors and hedge funds.

About Facebook

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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