Facebook Inc Receives a Rating Update from a Top Analyst

By Jason Carr

In a report released today, Scott Devitt from Stifel Nicolaus maintained a Hold rating on Facebook Inc (NASDAQ: FB), with a price target of $168. The company’s shares opened today at $163.87.

Devitt wrote:

“We are reminded of a Warren Buffett quote, “Trust is like the air we breathe – when it’s present, nobody really notices; when it’s absent, everybody notices.” Key Points 1. It became apparent during the hearings that Mark Zuckerberg is more knowledgeable about technology than members of Congress. Unfortunately for Facebook and the industry, broad knowledge by politicians of the real issues is not a prerequisite for regulation. It takes only a few members of Congress with interest in the topics at hand (privacy, security, competition, and consumer protection) to begin the process of creating rules for Internet companies, just like those that exist in almost every other industry. We believe consumer protection laws will be instituted in the U.S. to protect consumers and that Facebook’s scale and business practices have served as the catalyst.”

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 25.4% and a 72.5% success rate. Devitt covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, Booking Holdings Inc, and TripAdvisor Inc.

Facebook Inc has an analyst consensus of Strong Buy, with a price target consensus of $219.48.

Facebook Inc’s market cap is currently $483.3B and has a P/E ratio of 30.83. The company has a book value ratio of 6.5009.

Based on the recent corporate insider activity of 229 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.