Meta Platforms (NASDAQ:META - Get Free Report) had its price objective boosted by equities researchers at Oppenheimer from $525.00 to $585.00 in a report released on Monday, Marketbeat reports. The firm currently has an "outperform" rating on the social networking company's stock. Oppenheimer's price objective would indicate a potential upside of 12.66% from the company's previous close.
Other research analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an "overweight" rating in a research report on Friday, February 2nd. Jefferies Financial Group increased their price objective on shares of Meta Platforms from $550.00 to $585.00 and gave the company a "buy" rating in a report on Thursday. Wolfe Research increased their price objective on shares of Meta Platforms from $430.00 to $530.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. JMP Securities increased their price objective on shares of Meta Platforms from $410.00 to $500.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Finally, Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $370.00 to $540.00 and gave the company a "buy" rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $500.88.
Check Out Our Latest Research Report on Meta Platforms
Meta Platforms Price Performance
Shares of META traded down $8.09 during mid-day trading on Monday, hitting $519.25. 13,242,269 shares of the company were exchanged, compared to its average volume of 17,667,766. Meta Platforms has a 1-year low of $207.13 and a 1-year high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The company has a 50 day moving average of $483.21 and a 200-day moving average of $387.06. The stock has a market cap of $1.32 trillion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The company's revenue for the quarter was up 24.7% on a year-over-year basis. Analysts expect that Meta Platforms will post 19.94 EPS for the current fiscal year.
Insider Buying and Selling at Meta Platforms
In other news, insider Jennifer Newstead sold 566 shares of the firm's stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $356.40, for a total value of $201,722.40. Following the sale, the insider now directly owns 36,418 shares in the company, valued at approximately $12,979,375.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jennifer Newstead sold 566 shares of the firm's stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $356.40, for a total value of $201,722.40. Following the sale, the insider now directly owns 36,418 shares in the company, valued at approximately $12,979,375.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the firm's stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $364.99, for a total transaction of $7,183,368.19. The disclosure for this sale can be found here. Insiders sold 1,495,983 shares of company stock valued at $705,134,392 in the last 90 days. Company insiders own 14.03% of the company's stock.
Institutional Investors Weigh In On Meta Platforms
Several hedge funds and other institutional investors have recently bought and sold shares of META. Stone House Investment Management LLC raised its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock worth $26,000 after acquiring an additional 75 shares in the last quarter. MBM Wealth Consultants LLC acquired a new stake in Meta Platforms during the 4th quarter worth $26,000. Stephens Investment Management Group LLC acquired a new stake in Meta Platforms during the 2nd quarter worth $30,000. Beaird Harris Wealth Management LLC raised its stake in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Meta Platforms during the 4th quarter worth $32,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
About Meta Platforms
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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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