“Overweight” Rating for Facebook from JPMorgan Chase & Co

“Overweight” Rating for Facebook from JPMorgan Chase & Co

On Wednesday, a report was issued in which the stocks of Facebook got a reaffirmation of its "overweight" rating from the stock analysts at JPMorgan Chase & Co.

At present they have a target price of $85.00 on the stocks which is a drop from the earlier target price of $90.00. The price target of JPMorgan Chase & Co. signal at a likely advantage of 12.05% from the previous closing of the stock.

On Wednesday the shares of Facebook traded 2.31% down and hit $74.11. The number of shares of the company which traded hands was 82,869,208. For Facebook the one year high and low has been $81.16 and$43.55 respectively.

The fifty day moving average of the stock $77.04 and the two hundred day moving average of the stock is $69.38.

On October 28th, Tuesday, Facebook issued its last data on quarterly earnings. The company surpassed some of the analyst's estimates and reported $0.43 EPS for the quarter.

The company's revenue was $3.20 billion in the quarter which also beat the estimates if Thomson Reuters consensus of $3.11 billion. In the last years same quarter the company had reported $0.25 earnings per share.

The quarterly revenue of the company had a boost of 58.9% year on year. The analysts had estimated on an average for the present fiscal year Facebook will post $1.63 earnings per share.