In a report released yesterday, Brent Thill from Jefferies maintained a Buy rating on Facebook (FB – Research Report), with a price target of $425.00. The company’s shares closed last Wednesday at $373.28, close to its 52-week high of $377.55.
According to TipRanks.com, Thill is a top 25 analyst with an average return of 29.9% and a 78.8% success rate. Thill covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Palantir Technologies, and CrowdStrike Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Facebook with a $414.57 average price target, representing a 10.7% upside. In a report issued on July 15, Bank of America Securities also reiterated a Buy rating on the stock with a $400.00 price target.
Based on Facebook’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $26.17 billion and net profit of $9.5 billion. In comparison, last year the company earned revenue of $17.74 billion and had a net profit of $4.9 billion.
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Social networking company Facebook, Inc. develops applications that enable people to connect through mobile devices, personal computers, and other devices. The firm’s products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. Its revenue comes primarily from advertising. The company was founded by Mark Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004 and is headquartered in Menlo Park+D9, CA.