Analysts expect Facebook, Inc. (NASDAQ:FB) to report $17.32 billion in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Facebook’s earnings. The lowest sales estimate is $16.84 billion and the highest is $17.81 billion. Facebook posted sales of $13.73 billion during the same quarter last year, which would suggest a positive year over year growth rate of 26.1%. The business is expected to report its next earnings results after the market closes on Wednesday, October 30th.
According to Zacks, analysts expect that Facebook will report full year sales of $70.26 billion for the current year, with estimates ranging from $69.37 billion to $71.31 billion. For the next financial year, analysts anticipate that the firm will report sales of $85.53 billion, with estimates ranging from $83.62 billion to $88.35 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Facebook.
Several research firms have issued reports on FB. Royal Bank of Canada reaffirmed a “buy” rating and set a $260.00 price objective on shares of Facebook in a report on Thursday, July 25th. Stifel Nicolaus reissued a “hold” rating and issued a $205.00 price target (up from $180.00) on shares of Facebook in a research note on Monday. They noted that the move was a valuation call. Jefferies Financial Group raised their price target on shares of Facebook from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America set a $224.00 target price on shares of Facebook and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Goldman Sachs Group set a $231.00 target price on shares of Facebook and gave the stock a “buy” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $223.82.
In other Facebook news, CAO Susan J.S. Taylor sold 1,134 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $185.45, for a total value of $210,300.30. Following the transaction, the chief accounting officer now directly owns 1,037 shares of the company’s stock, valued at approximately $192,311.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 76,484 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $175.34, for a total transaction of $13,410,704.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,412,638 shares of company stock valued at $813,554,295. 14.53% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Facebook by 2.0% in the second quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock valued at $34,871,738,000 after buying an additional 3,465,756 shares during the period. BlackRock Inc. grew its position in Facebook by 2.8% in the second quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock valued at $29,270,846,000 after acquiring an additional 4,114,043 shares in the last quarter. Invesco Ltd. grew its position in Facebook by 36.5% in the second quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock valued at $6,764,908,000 after acquiring an additional 9,368,684 shares in the last quarter. Northern Trust Corp grew its position in Facebook by 1.7% in the second quarter. Northern Trust Corp now owns 28,594,013 shares of the social networking company’s stock valued at $5,518,644,000 after acquiring an additional 470,411 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in Facebook by 5,336.8% in the second quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock valued at $4,341,794,000 after acquiring an additional 22,082,561 shares in the last quarter. 63.23% of the stock is currently owned by institutional investors and hedge funds.
FB traded up $1.51 during midday trading on Wednesday, hitting $189.40. 13,639,900 shares of the company traded hands, compared to its average volume of 16,695,645. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $531.73 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 1.09 and a beta of 1.02. Facebook has a 52-week low of $123.02 and a 52-week high of $208.66. The business has a 50 day simple moving average of $184.37 and a two-hundred day simple moving average of $186.54.
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.
Read More: Oversold
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.