TD Securities Lowers Meta Platforms (NASDAQ:META) Price Target to $700.00

Meta Platforms (NASDAQ:META - Get Free Report) had its price target dropped by equities researchers at TD Securities from $725.00 to $700.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the social networking company's stock. TD Securities' price objective points to a potential upside of 20.35% from the stock's previous close.

META has been the topic of several other reports. KeyCorp increased their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday. Roth Capital raised their price objective on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday. Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Pivotal Research lowered their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Stifel Nicolaus raised their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $692.37.

Meta Platforms Price Performance

META traded up $32.62 during midday trading on Thursday, hitting $581.62. 16,613,399 shares of the company traded hands, compared to its average volume of 14,394,848. The business has a 50 day simple moving average of $578.42 and a two-hundred day simple moving average of $603.67. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms has a 52-week low of $427.11 and a 52-week high of $740.91.

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, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the business earned $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. On average, equities analysts forecast that Meta Platforms will post 26.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the firm's stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the transaction, the chief operating officer now owns 20,935 shares of the company's stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the transaction, the insider now directly owns 27,498 shares in the company, valued at approximately $13,525,441.26. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,071 shares of company stock valued at $175,741,082. Company insiders own 13.71% of the company's stock.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds have recently made changes to their positions in the business. Riversedge Advisors LLC grew its stake in shares of Meta Platforms by 13.7% in the 1st quarter. Riversedge Advisors LLC now owns 1,660 shares of the social networking company's stock worth $957,000 after purchasing an additional 200 shares during the last quarter. IFC Advisors LLC grew its stake in shares of Meta Platforms by 513.2% in the 1st quarter. IFC Advisors LLC now owns 2,882 shares of the social networking company's stock worth $1,661,000 after purchasing an additional 2,412 shares during the last quarter. American Financial Advisors LLC grew its stake in shares of Meta Platforms by 3.9% in the 1st quarter. American Financial Advisors LLC now owns 2,824 shares of the social networking company's stock worth $1,628,000 after purchasing an additional 105 shares during the last quarter. Fulcrum Equity Management grew its stake in shares of Meta Platforms by 6.8% in the 1st quarter. Fulcrum Equity Management now owns 711 shares of the social networking company's stock worth $410,000 after purchasing an additional 45 shares during the last quarter. Finally, Harmony Asset Management LLC boosted its holdings in shares of Meta Platforms by 71.9% in the first quarter. Harmony Asset Management LLC now owns 2,547 shares of the social networking company's stock worth $1,468,000 after buying an additional 1,065 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Company Profile

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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