Facebook (NASDAQ:FB) had its target price lifted by Macquarie from $30.00 to $40.00 in a research note released on Thursday morning, Analyst Ratings Network reports. They currently have an outperform rating on the stock.
Macquarie has also taken action a number of other information technology stocks recently. The firm downgraded shares of Canadian Natrl Res from an outperform rating to a neutral rating. Also, Macquarie upgraded shares of Agnico-Eagle Mines Limited from an underperform rating to a neutral rating. Finally, Macquarie upgraded shares of Westpac Banking Co. from a neutral rating to an outperform rating.
Shares of Facebook (NASDAQ: FB) traded up 2.32% during mid-day trading on Thursday, hitting $34.80. Facebook has a one year low of $17.55 and a one year high of $34.88. The stock’s 50-day moving average is currently $25.42. The company has a market cap of $83.764 billion and a P/E ratio of 156.73.
A number of other firms have also recently commented on FB. Analysts at JPMorgan Cazenove raised their price target on shares of Facebook from $35.00 to $44.00 in a research note to investors on Thursday. They now have an overweight rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Facebook from $21.00 to $29.00 in a research note to investors on Thursday. They now have a market perform rating on the stock. Finally, analysts at Telsey Advisory Group raised their price target on shares of Facebook from $38.00 to $41.00 in a research note to investors on Thursday.
One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $36.75.
Facebook, Inc (NASDAQ: FB) is engaged in building products to create utility for users, developers, and advertisers.