Meta Platforms (NASDAQ:META - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at Wells Fargo & Company in a research report issued on Tuesday,Benzinga reports. They currently have a $664.00 price objective on the social networking company's stock. Wells Fargo & Company's price objective suggests a potential downside of 5.31% from the stock's current price.
A number of other analysts also recently commented on META. Raymond James dropped their price objective on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. Guggenheim lifted their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Roth Capital raised their price objective on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, Oppenheimer upped their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $706.88.
Check Out Our Latest Stock Report on META
Meta Platforms Stock Performance
Shares of NASDAQ:META traded down $0.85 on Tuesday, reaching $701.27. 1,180,243 shares of the company's stock were exchanged, compared to its average volume of 14,467,343. The business's 50-day moving average is $607.90 and its two-hundred day moving average is $620.85. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.42 and a beta of 1.26.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 EPS. As a group, equities research analysts forecast that Meta Platforms will post 26.7 EPS for the current year.
Insider Buying and Selling at Meta Platforms
In related news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares in the company, valued at $2,744,547.96. This trade represents a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,672 shares of company stock worth $55,455,647 in the last 90 days. 13.61% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of META. Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $19,949,512,000. GAMMA Investing LLC raised its stake in Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Meta Platforms in the first quarter worth $2,990,544,000. Finally, Raymond James Financial Inc. acquired a new position in Meta Platforms during the fourth quarter valued at $2,243,603,000. Institutional investors own 79.91% of the company's stock.
Meta Platforms Company Profile
(
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.
Further Reading
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