Meta Platforms (NASDAQ:META - Get Free Report) had its price objective upped by research analysts at Citigroup from $690.00 to $803.00 in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the social networking company's stock. Citigroup's price target would suggest a potential upside of 12.75% from the company's previous close.
A number of other analysts have also recently issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Raymond James Financial cut their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Barclays decreased their target price on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Rosenblatt Securities raised their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $712.69.
Check Out Our Latest Stock Analysis on META
Meta Platforms Stock Up 2.0%
NASDAQ:META traded up $13.67 on Tuesday, hitting $712.20. 13,806,658 shares of the company's stock traded hands, compared to its average volume of 14,495,689. The company has a market cap of $1.79 trillion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.68 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 company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $621.44 and a 200-day moving average price of $623.76.
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 for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 EPS. Equities analysts anticipate that Meta Platforms will post 26.7 EPS for the current fiscal year.
Insiders Place Their Bets
In other Meta Platforms news, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $563.03, for a total value of $342,322.24. Following the transaction, the chief operating officer now owns 6,230 shares of the company's stock, valued at approximately $3,507,676.90. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $570.66, for a total value of $525,577.86. Following the sale, the insider now owns 30,261 shares in the company, valued at $17,268,742.26. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,002 shares of company stock worth $73,353,340 over the last three months. 13.61% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Meta Platforms
Hedge funds have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC lifted its holdings in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after buying an additional 1,850 shares in the last quarter. Skye Global Management LP raised its position in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after acquiring an additional 43,200 shares during the last quarter. Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $459,000. Kovitz Investment Group Partners LLC boosted its holdings in Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after purchasing an additional 110,040 shares during the period. Institutional investors own 79.91% of the company's stock.
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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