Zacks: Brokers Predict Facebook, Inc. (NASDAQ: FB) To Show Quarterly Sales Of $ 27.72 Billion
Equity research analysts expect Facebook, Inc. (NASDAQ: FB) to report sales of $ 27.72 billion for the current quarter, Zacks investment research reports. Fourteen analysts provided revenue estimates for Facebook. The highest sales estimate is $ 28.21 billion and the lowest is $ 25.31 billion. Facebook reported sales of $ 18.69 billion in the same quarter last year, suggesting a positive growth rate of 48.3% year-over-year. The company is expected to announce its next quarterly earnings report on Thursday, July 29.
According to Zacks, analysts expect Facebook to report annual revenue of $ 115.80 billion for the current fiscal year, with estimates ranging from $ 108.88 billion to $ 122.54 billion. For the next fiscal year, analysts predict the company will post revenue of $ 139.07 billion, with estimates ranging from $ 130.88 billion to $ 148.08 billion. Zacks’ sales calculations are an average based on a survey of seller-side research companies that cover Facebook.
Facebook (NASDAQ: FB) last released its quarterly results on Wednesday, April 28. The social networking company reported earnings per share (EPS) of $ 3.30 for the quarter, beating the consensus estimate of $ 2.36 by Thomson Reuters by $ 0.94. The company posted revenue of $ 26.20 billion for the quarter, compared to a consensus estimate of $ 23.61 billion. Facebook had a net margin of 35.74% and a return on equity of 27.54%. The company’s quarterly revenue increased 47.7% year-over-year. In the same quarter of the previous year, the company achieved EPS of $ 1.71.
A number of research analysts have published reports on FB stocks. Susquehanna raised its target price on Facebook shares from $ 375.00 to $ 425.00 and gave the company a “positive” rating in a research report on Thursday, April 29. They noted that the move was an appraisal call. Oppenheimer raised its price target on Facebook from $ 350.00 to $ 375.00 and gave the company an “outperforming” rating in a research note on Thursday, April 29. Jefferies Financial Group raised its price target on Facebook from $ 360.00 to $ 385.00 and gave the company a “buy” rating in a research note on Wednesday, May 5. HSBC raised its price target on Facebook from $ 220.00 to $ 275.00 and gave the company a “reduction” rating in a research note on Tuesday, May 25. Finally, BMO Capital Markets increased its target price on Facebook from $ 375.00 to $ 420.00 and gave the company an “outperformance” rating in a research note on Thursday, April 29. One equity research analyst rated the stock with a sell rating, eight assigned a conservation rating, thirty-two assigned a buy rating, and one assigned a high buy rating to stocks in the society. The stock currently has a consensus rating of “Buy” and a consensus price target of $ 369.67.
In related news, CAD Susan JS Taylor sold 3,147 shares in a trade that took place on Thursday, April 1. The shares were sold at an average price of $ 300.00, for a total trade of $ 944,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed via this link. Additionally, CFO David M. Wehner sold 678 shares in a trade that took place on Friday, March 19. The shares were sold at an average price of $ 289.99, for a total trade of $ 196,613.22. Following the closing of the transaction, the CFO now directly owns 34,425 shares of the company, valued at approximately $ 9,982,905.75. Disclosure of this sale can be found here. Insiders sold a total of 1,864,753 shares of the company valued at $ 567,340,894 during the last quarter. 14.01% of the shares are currently held by company insiders.
Several hedge funds have recently increased or reduced their holdings in FB. Flagship Private Wealth LLC acquired a new stake in Facebook shares during the fourth quarter valued at $ 25,000. RBA Wealth Management LLC acquired a new stake in Facebook shares during the first quarter valued at $ 25,000. DB Wealth Management Group LLC acquired a new stake in Facebook shares during the fourth quarter valued at $ 27,000. Klaas Financial Asset Advisors LLC acquired a new stake in Facebook shares during the fourth quarter valued at $ 27,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in Facebook shares during the fourth quarter valued at $ 27,000. 65.63% of the shares are held by hedge funds and other institutional investors.
Facebook stock opened at $ 329.13 on Wednesday. Facebook has a one-year low at $ 207.11 and a one-year high at $ 333.78. The company has a market cap of $ 933.24 billion, a P / E ratio of 28.15, a PEG ratio of 1.24 and a beta of 1.30. The company’s 50-day simple moving average is $ 308.90.
Facebook Company Profile
Facebook, Inc is developing products that allow people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and home devices around the world. The company’s products include Facebook which allows people to connect, share, discover and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos and private messages; Messenger, a messaging app that allows people to connect with friends, family, groups and businesses on all platforms and devices; and WhatsApp, a messaging application used by individuals and businesses to communicate privately.
Feature article: Gross domestic product (GDP)
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