Goldman Sachs Maintains Their Buy Rating on Facebook (FB)
Goldman Sachs analyst Heather Bellini maintained a Buy rating on Facebook (FB) today and set a price target of $231.00. The company’s shares closed last Monday at $185.85.
According to TipRanks.com, Bellini is a 5-star analyst with an average return of 18.5% and a 74.5% success rate. Bellini covers the Technology sector, focusing on stocks such as Ping Identity Holding Corp, Slack Technologies Inc, and Cloudflare Inc.
Facebook has an analyst consensus of Strong Buy, with a price target consensus of $236.57, implying a 24.4% upside from current levels. In a report issued on October 9, Deutsche Bank also maintained a Buy rating on the stock with a $230.00 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 $16.89 billion and net profit of $2.62 billion. In comparison, last year the company earned revenue of $13.73 billion and had a net profit of $5.14 billion.
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