Tigress Financial Believes Facebook (NASDAQ: FB) Won’t Stop Here

By Carrie Williams

In a report released yesterday, Ivan Feinseth from Tigress Financial reiterated a Buy rating on Facebook (FBResearch Report). The company’s shares closed last Monday at $293.20, close to its 52-week high of $304.67.

According to TipRanks.com, Feinseth is a top 100 analyst with an average return of 18.6% and a 69.0% success rate. Feinseth covers the Technology sector, focusing on stocks such as Microsoft, Alphabet, and Verizon.

Facebook has an analyst consensus of Strong Buy, with a price target consensus of $291.71, implying a -0.8% downside from current levels. In a report issued on August 24, Citigroup also maintained a Buy rating on the stock with a $315.00 price target.

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Based on Facebook’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $18.69 billion and net profit of $5.18 billion. In comparison, last year the company earned revenue of $16.89 billion and had a net profit of $2.62 billion.

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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.