Bank of America restated their buy rating on shares of Facebook Inc (NASDAQ:FB) in a report issued on Sunday, MarketBeat reports. The brokerage currently has a $140.00 price target on the social networking company’s stock, up from their prior price target of $130.00.

Shares of Facebook (NASDAQ:FB) opened at 112.21 on Friday. The stock has a market capitalization of $316.99 billion and a PE ratio of 86.98. Facebook has a 52 week low of $72.00 and a 52 week high of $112.84. The company has a 50-day moving average price of $101.61 and a 200 day moving average price of $98.05.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, January 27th. The social networking company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.36 billion. Facebook’s quarterly revenue was up 51.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Equities analysts forecast that Facebook will post $3.14 EPS for the current fiscal year.

A number of other equities analysts have also commented on FB. Argus initiated coverage on Facebook in a research note on Thursday, October 8th. They set a buy rating and a $115.00 price target for the company. Needham & Company LLC reissued a buy rating and set a $115.00 price target on shares of Facebook in a research note on Thursday, October 8th. Credit Suisse reissued an outperform rating and set a $115.00 price target (up from $110.00) on shares of Facebook in a research note on Friday, October 9th. RBC Capital reissued a buy rating and set a $105.00 price target on shares of Facebook in a research note on Monday, October 12th. Finally, Vetr lowered Facebook from a buy rating to a hold rating and set a $98.02 price objective for the company. in a research note on Monday, October 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and forty-eight have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $127.33.

In other Facebook news, VP Colin Stretch sold 3,877 shares of the firm’s stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $93.78, for a total transaction of $363,585.06. Following the transaction, the vice president now owns 74,723 shares of the company’s stock, valued at $7,007,522.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marc L. Andreessen sold 141,522 shares of the firm’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $108.72, for a total value of $15,386,271.84. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of the company. Beacon Capital Management raised its position in shares of Facebook by 2.0% in the fourth quarter. Beacon Capital Management now owns 102 shares of the social networking company’s stock valued at $11,000 after buying an additional 2 shares during the last quarter. Integrated Wealth Management raised its position in shares of Facebook by 0.3% in the fourth quarter. Integrated Wealth Management now owns 11,462 shares of the social networking company’s stock valued at $1,200,000 after buying an additional 35 shares during the last quarter. Prentiss Smith & Co. Inc. raised its position in shares of Facebook by 0.5% in the fourth quarter. Prentiss Smith & Co. Inc. now owns 7,038 shares of the social networking company’s stock valued at $737,000 after buying an additional 38 shares during the last quarter. Campbell Newman Asset Management raised its position in shares of Facebook by 0.5% in the fourth quarter. Campbell Newman Asset Management now owns 8,762 shares of the social networking company’s stock valued at $917,000 after buying an additional 45 shares during the last quarter. Finally, Mathes Company Inc. raised its position in shares of Facebook by 0.8% in the fourth quarter. Mathes Company Inc. now owns 6,325 shares of the social networking company’s stock valued at $662,000 after buying an additional 50 shares during the last quarter.

Facebook, Inc. is a social networking company. The Company is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It offers various services focused on people, marketers and developers. It offers various platforms for people to share their opinions, ideas, photos and videos, and to engage in other activities. Its products include Facebook, Instagram, Messenger and WhatsApp. The Facebook mobile app and Website enables people to connect, share, discover and communicate with each other on mobile devices and personal computers. Its Messenger is a mobile-to-mobile messaging application available on iOS and Android phones. Instagram is a mobile application and Website that enables people to take photos or videos, and share them with friends and followers. WhatsApp Messenger is a cross-platform mobile messaging application and allows people to exchange messages on iOS, Android, BlackBerry, Windows Phone and Nokia devices.

12 Month Chart for NASDAQ:FB

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