Meta Platforms (NASDAQ:META - Get Free Report) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $735.00 to $795.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the social networking company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 10.80% from the stock's current price.
META has been the topic of a number of other reports. UBS Group restated a "buy" rating and set a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a research report on Thursday, June 26th. Rosenblatt Securities upped their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Raymond James Financial lowered their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. Morgan Stanley increased their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Moffett Nathanson raised their price objective on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $729.38.
Check Out Our Latest Analysis on Meta Platforms
Meta Platforms Price Performance
Shares of META stock traded down $9.73 during trading hours on Friday, hitting $717.51. The stock had a trading volume of 10,855,962 shares, compared to its average volume of 14,480,953. Meta Platforms has a one year low of $442.65 and a one year high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The stock's 50-day moving average price is $674.77 and its two-hundred day moving average price is $634.17. The stock has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.78 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the previous year, the firm posted $4.71 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that Meta Platforms will post 26.7 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,792 shares of company stock valued at $105,466,325. 13.61% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Meta Platforms
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in Meta Platforms by 608,429.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company's stock valued at $44,119,937,000 after purchasing an additional 59,766,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Finally, Capital World Investors boosted its position in Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after buying an additional 1,141,355 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
About Meta Platforms
(
Get Free Report)
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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