BMO Capital Markets Cuts Facebook (NASDAQ:FB) Price Target to $195.00

Facebook (NASDAQ:FB) had its price objective cut by BMO Capital Markets to $195.00 in a research note published on Tuesday morning, The Fly reports. They currently have a market perform rating on the social networking company’s stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus upgraded Waste Connections from a hold rating to a buy rating and boosted their price target for the stock from $88.00 to $105.00 in a research report on Thursday, April 25th. KeyCorp reiterated a hold rating on shares of Packaging Corp Of America in a research report on Thursday, April 25th. Monness Crespi & Hardt set a $250.00 price target on Facebook and gave the stock a buy rating in a research report on Monday, July 15th. Cowen boosted their price target on ServiceNow from $260.00 to $280.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Finally, Wedbush reiterated a buy rating and set a $1,350.00 price target on shares of Alphabet in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and forty-four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $219.67.

Shares of Facebook stock traded down $3.25 on Tuesday, reaching $197.46. The company’s stock had a trading volume of 592,275 shares, compared to its average volume of 13,561,832. The firm has a market capitalization of $584.20 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.26 and a beta of 0.97. 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 $191.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.38 and a quick ratio of 5.38.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion during the quarter, compared to analysts’ expectations of $16.49 billion. Facebook had a return on equity of 24.11% and a net margin of 27.26%. The business’s revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.74 earnings per share. Research analysts expect that Facebook will post 8 earnings per share for the current year.

In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $195.13, for a total transaction of $10,732,150.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO David B. Fischer sold 5,438 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $194.29, for a total value of $1,056,549.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,480 shares of company stock worth $56,660,885. 14.53% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FB. Biegel & Waller LLC increased its holdings in shares of Facebook by 2.2% in the 2nd quarter. Biegel & Waller LLC now owns 2,336 shares of the social networking company’s stock valued at $451,000 after acquiring an additional 50 shares during the last quarter. Hyman Charles D increased its holdings in shares of Facebook by 0.9% in the 2nd quarter. Hyman Charles D now owns 5,861 shares of the social networking company’s stock valued at $1,131,000 after acquiring an additional 50 shares during the last quarter. Perkins Coie Trust Co increased its holdings in shares of Facebook by 3.5% in the 2nd quarter. Perkins Coie Trust Co now owns 1,522 shares of the social networking company’s stock valued at $294,000 after acquiring an additional 52 shares during the last quarter. Regal Wealth Group Inc. increased its holdings in shares of Facebook by 4.1% in the 2nd quarter. Regal Wealth Group Inc. now owns 1,421 shares of the social networking company’s stock valued at $274,000 after acquiring an additional 56 shares during the last quarter. Finally, Insight 2811 Inc. increased its holdings in shares of Facebook by 2.3% in the 2nd quarter. Insight 2811 Inc. now owns 2,547 shares of the social networking company’s stock valued at $502,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 61.75% of the company’s stock.

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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