Stifel Nicolaus Believes Facebook (FB) Won’t Stop Here


Stifel Nicolaus analyst John Egbert reiterated a Buy rating on Facebook (FB) today and set a price target of $320.00. The company’s shares closed last Friday at $280.19, close to its 52-week high of $304.67.

According to TipRanks.com, Egbert is a 5-star analyst with an average return of 28.3% and a 61.1% success rate. Egbert covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, Spotify Technology SA, and Zillow Group Class A.

Currently, the analyst consensus on Facebook is a Strong Buy with an average price target of $302.50, implying an 8.5% upside from current levels. 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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