Cowen & Co. Believes Facebook Inc (NASDAQ: FB) Still Has Room to Grow

By Ryan Adsit

In a report released yesterday, John Blackledge from Cowen & Co. reiterated a Buy rating on Facebook Inc (NASDAQ: FB), with a price target of $220. The company’s shares closed yesterday at $184.33, close to its 52-week high of $186.21.

According to TipRanks.com, Blackledge is a 5-star analyst with an average return of 15.7% and a 71.1% success rate. Blackledge covers the Services sector, focusing on stocks such as Sirius XM Radio, Pandora Media, and Wayfair Inc.

Currently, the analyst consensus on Facebook Inc is Strong Buy and the average price target is $213.89, representing a 16.0% upside.

In a report issued on December 20, Jefferies also maintained a Buy rating on the stock with a $225 price target.

Based on Facebook Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $10.33 billion and quarterly net profit of $4.7 billion. In comparison, last year the company earned revenue of $8.81 billion and had a net profit of $3.56 billion.

Based on the recent corporate insider activity of 230 insiders, corporate insider sentiment is negative on the stock.

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