Meta Platforms (NASDAQ:META) Price Target Raised to $807.00 at Cantor Fitzgerald

Meta Platforms (NASDAQ:META - Get Free Report) had its price objective increased by investment analysts at Cantor Fitzgerald from $676.00 to $807.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the social networking company's stock. Cantor Fitzgerald's price objective would indicate a potential upside of 15.16% from the company's current price.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. JMP Securities reaffirmed a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. KeyCorp raised their target price on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Citigroup restated a "buy" rating on shares of Meta Platforms in a research report on Thursday, June 12th. Finally, Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $3.53 during midday trading on Wednesday, reaching $700.76. 2,449,696 shares of the company were exchanged, compared to its average volume of 14,466,676. The stock has a market cap of $1.76 trillion, a P/E ratio of 27.35, a PEG ratio of 1.73 and a beta of 1.26. Meta Platforms has a 1 year low of $442.65 and a 1 year high of $740.91. The stock has a fifty day simple moving average of $610.13 and a 200 day simple moving average of $621.38. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating 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 company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the business posted $4.71 EPS. The company's revenue was up 16.1% on a year-over-year basis. On average, research analysts forecast that Meta Platforms will post 26.7 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Javier Olivan sold 608 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $614.97, for a total transaction of $373,901.76. Following the completion of the transaction, the chief operating officer now owns 6,838 shares in the company, valued at $4,205,164.86. The trade was a 8.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 7,802 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $701.96, for a total transaction of $5,476,691.92. Following the transaction, the chief executive officer now owns 110,477 shares of the company's stock, valued at $77,550,434.92. This represents a 6.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,672 shares of company stock worth $55,455,647. 13.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after buying an additional 1,502,553 shares during the period. Geode Capital Management LLC raised its position in Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after acquiring an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors boosted its position in shares of Meta Platforms by 2.9% during 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 purchasing an additional 1,141,355 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $19,949,512,000. 79.91% of the stock is owned by institutional investors and hedge funds.

About Meta Platforms

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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