Facebook (FB) Received its Third Buy in a Row

After Cowen & Co. and Robert W. Baird gave Facebook (NASDAQ: FB) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst Stephen Ju maintained a Buy rating on Facebook today and set a price target of $330.00. The company’s shares closed last Friday at $260.91.

According to TipRanks.com, Ju is a top 100 analyst with an average return of 23.3% and a 70.5% success rate. Ju covers the Technology sector, focusing on stocks such as Endurance International, Alphabet Class A, and Headhunter Group.

Facebook has an analyst consensus of Strong Buy, with a price target consensus of $318.29, which is a 16.0% upside from current levels. In a report issued on October 16, Bernstein also maintained a Buy rating on the stock with a 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.