Todays Report: The Citigroup Inc. Reiterates “Buy” Rating for Facebook Inc. (FB)

The Citigroup Inc. Reiterates “Buy” Rating for Facebook Inc. (FB)

Facebook Inc. (NASDAQ:FB)‘s stock had its “buy” rating reissued by research analysts at Citigroup Inc. in a report released on Wednesday. They currently have a $158.00 price objective on the social networking company’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 23.61% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Cowen and Company reaffirmed a “buy” rating and issued a $145.00 target price on shares of Facebook in a report on Sunday, July 17th. MKM Partners reaffirmed a “buy” rating on shares of Facebook in a report on Sunday, July 24th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Facebook in a report on Sunday, July 10th. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $127.69 target price on the stock in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $170.00 target price on Facebook and gave the stock a “buy” rating in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $149.99.

Shares of Facebook (NASDAQ:FB) opened at 127.82 on Wednesday. Facebook has a 52 week low of $89.37 and a 52 week high of $131.98. The company has a market cap of $367.06 billion, a price-to-earnings ratio of 61.10 and a beta of 0.77. The firm’s 50-day moving average price is $128.15 and its 200 day moving average price is $120.12.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.15. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6 billion. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The company’s revenue was up 59.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. On average, equities research analysts forecast that Facebook will post $3.94 EPS for the current year.

In other Facebook news, Director Jan Koum sold 1,566,668 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $129.70, for a total transaction of $203,196,839.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David B. Fischer sold 31,500 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $123.58, for a total transaction of $3,892,770.00. Following the sale, the vice president now owns 218,648 shares in the company, valued at $27,020,519.84. The disclosure for this sale can be found here. Corporate insiders own 19.08% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Stelac Advisory Services LLC purchased a new stake in shares of Facebook during the first quarter worth $106,000. Bartlett & Co. LLC raised its stake in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares during the last quarter. Kings Point Capital Management raised its stake in shares of Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock worth $136,000 after buying an additional 200 shares during the last quarter. Balentine LLC raised its stake in shares of Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock worth $139,000 after buying an additional 1,015 shares during the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock worth $140,000 after buying an additional 18 shares during the last quarter. Institutional investors own 56.61% of the company’s stock.

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