Goldman Sachs Keeps a Buy Rating on Facebook (FB)

By Austin Angelo

In a report released yesterday, Heather Bellini from Goldman Sachs maintained a Buy rating on Facebook (FBResearch Report), with a price target of $265.00. The company’s shares closed last Monday at $240.28, close to its 52-week high of $245.19.

According to TipRanks.com, Bellini is a top 100 analyst with an average return of 17.6% and a 79.0% success rate. Bellini covers the Technology sector, focusing on stocks such as Zoom Video Communications, Ping Identity Holding, and CrowdStrike Holdings.

Currently, the analyst consensus on Facebook is a Strong Buy with an average price target of $249.23, representing a 6.6% upside. In a report issued on June 25, Robert W. Baird also maintained a Buy rating on the stock with a $300.00 price target.

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Based on Facebook’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $17.74 billion and net profit of $4.9 billion. In comparison, last year the company earned revenue of $15.08 billion and had a net profit of $2.43 billion.

Based on the recent corporate insider activity of 174 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FB in relation to earlier this year.

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.

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.