Facebook (FB) Price Target Increased to $240.00 by Analysts at SunTrust Banks

Facebook (NASDAQ:FB) had its target price boosted by SunTrust Banks to $240.00 in a research report released on Friday morning, The Fly reports. SunTrust Banks currently has a buy rating on the social networking company’s stock. SunTrust Banks also issued estimates for Facebook’s FY2022 earnings at $16.26 EPS.

FB has been the topic of several other reports. BidaskClub upgraded Facebook from a buy rating to a strong-buy rating in a report on Wednesday, January 10th. Vetr upgraded Facebook from a buy rating to a strong-buy rating and set a $210.43 target price on the stock in a report on Wednesday, January 10th. Wells Fargo & Co restated an outperform rating and set a $215.00 target price (up from $185.00) on shares of Facebook in a report on Wednesday, September 27th. Royal Bank of Canada restated a buy rating and set a $195.00 target price on shares of Facebook in a report on Friday, October 13th. Finally, Wedbush restated an outperform rating and set a $230.00 target price (up from $225.00) on shares of Facebook in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $203.72.

Facebook (NASDAQ:FB) traded up $0.36 on Friday, reaching $179.73. The company had a trading volume of 19,271,243 shares, compared to its average volume of 17,770,000. The firm has a market capitalization of $521,710.00, a PE ratio of 33.41, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Facebook has a 52-week low of $126.78 and a 52-week high of $188.90.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.31. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. equities analysts anticipate that Facebook will post 5.86 earnings per share for the current year.

In other news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $172.43, for a total value of $129,322.50. Following the transaction, the vice president now directly owns 89,916 shares of the company’s stock, valued at approximately $15,504,215.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jan Koum sold 2,600,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $180.09, for a total value of $468,234,000.00. The disclosure for this sale can be found here. Insiders have sold 4,181,449 shares of company stock worth $752,592,962 over the last ninety days. Company insiders own 17.23% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Country Trust Bank raised its position in Facebook by 550.6% in the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after purchasing an additional 479 shares during the last quarter. D. Scott Neal Inc. increased its stake in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares in the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in Facebook in the third quarter valued at $111,000. Mountain Capital Investment Advisors Inc bought a new stake in Facebook in the second quarter valued at $138,000. Finally, Vigilant Capital Management LLC increased its stake in Facebook by 17.8% in the second quarter. Vigilant Capital Management LLC now owns 991 shares of the social networking company’s stock valued at $150,000 after purchasing an additional 150 shares in the last quarter. 57.75% of the stock is currently owned by institutional investors and hedge funds.

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About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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