Monness analyst Brian White maintained a Buy rating on Facebook (FB) today and set a price target of $290.00. The company’s shares closed last Wednesday at $278.73, close to its 52-week high of $304.67.
According to TipRanks.com, White is a top 25 analyst with an average return of 30.5% and a 78.0% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Alphabet Class A.
Currently, the analyst consensus on Facebook is a Strong Buy with an average price target of $300.15, representing a 7.4% upside. In a report issued on October 8, Cowen & Co. also maintained a Buy rating on the stock with a $320.00 price target.
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Based on Facebook’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $18.69 billion and net profit of $5.18 billion. In comparison, last year the company earned revenue of $16.89 billion and had a net profit of $2.62 billion.
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Facebook, Inc. operates as a social networking company worldwide. The company engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online. The firm’s products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. The company was founded by Mark Elliot Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004 and is headquartered in Menlo Park, CA.
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