Meta Platforms (NASDAQ:META – Get Free Report) had its price objective increased by JMP Securities from $635.00 to $660.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the social networking company’s stock. JMP Securities’ target price would indicate a potential upside of 16.20% from the company’s current price.
Several other equities research analysts have also commented on META. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. KeyCorp upped their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. BMO Capital Markets raised their price objective on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday. Tigress Financial raised their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Finally, Citigroup lifted their price target on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $632.90.
View Our Latest Stock Analysis on Meta Platforms
Meta Platforms Price Performance
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, analysts anticipate that Meta Platforms will post 21.44 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,818 shares of company stock worth $132,569,993. Insiders own 13.71% of the company’s stock.
Institutional Trading of Meta Platforms
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in META. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. grew its stake in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. bought a new stake in Meta Platforms in the third quarter valued at approximately $46,000. 79.91% of the stock is currently 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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