Facebook Inc (FB) is Reiterated by Credit Suisse to Outperform, Raises Price Target to $ 170

Facebook Inc (FB) was Reiterated by Credit Suisse to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 170 from a previous price target of $154 . Credit Suisse advised their investors in a research report released on Oct 17, 2016.

Many Wall Street Analysts have commented on Facebook Inc. Company shares were Reiterated by JP Morgan on Sep 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 175 from a previous price target of $170 .Loop Capital Initiated Facebook Inc on Sep 23, 2016 to “Buy”, Price Target of the shares are set at $165.Company shares were Reiterated by MKM Partners on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 165 from a previous price target of $150 .

On the company’s financial health, Facebook Inc reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.82. The company had revenue of $6436.00 million for the quarter, compared to analysts expectations of $6003.45 million. The company’s revenue was up 59.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Facebook Inc opened for trading at $128.49 and hit $128.95 on the upside on Friday, eventually ending the session at $127.88, with a gain of 0.05% or 0.06 points. The heightened volatility saw the trading volume jump to 1,33,45,292 shares. Company has a market cap of $367,228 M.

In a different news, on Oct 14, 2016, Mark Zuckerberg (COB and CEO) sold 740,626 shares at $128.45 per share price. According to the SEC, on Oct 12, 2016, Jan Koum (director) sold 1,002,114 shares at $129.82 per share price. On Oct 12, 2016, Colin Stretch (VP and General Counsel) sold 750 shares at $129.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Facebook Inc. is a social networking company. The Company is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It offers various services focused on people marketers and developers. It offers various platforms for people to share their opinions ideas photos and videos and to engage in other activities. Its products include Facebook Instagram Messenger and WhatsApp. The Facebook mobile app and Website enables people to connect share discover and communicate with each other on mobile devices and personal computers. Its Messenger is a mobile-to-mobile messaging application available on iOS and Android phones. Instagram is a mobile application and Website that enables people to take photos or videos and share them with friends and followers. WhatsApp Messenger is a cross-platform mobile messaging application and allows people to exchange messages on iOS Android BlackBerry Windows Phone and Nokia devices.

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