Meta Platforms’ (META) “Buy” Rating Reaffirmed at Rosenblatt Securities

Meta Platforms (NASDAQ:META)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a research note issued on Thursday, Benzinga reports. They presently have a $811.00 price target on the social networking company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 42.99% from the company’s current price.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. TD Securities upped their target price on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. KeyCorp increased their price objective on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Truist Financial increased their price objective on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Trading Down 0.1 %

Shares of META stock opened at $567.16 on Thursday. Meta Platforms has a 1 year low of $308.33 and a 1 year high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock’s 50 day simple moving average is $555.99 and its two-hundred day simple moving average is $513.03. The company has a market cap of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Research analysts predict that Meta Platforms will post 21.47 earnings per share for the current year.

Insider Activity

In other news, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the sale, the chief executive officer now directly owns 518,004 shares in the company, valued at $310,890,460.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the sale, the chief executive officer now directly owns 518,004 shares in the company, valued at $310,890,460.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total value of $524,990.50. Following the sale, the insider now owns 31,482 shares in the company, valued at $18,262,708.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 251,993 shares of company stock worth $133,271,982 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors have recently bought and sold shares of the company. Central Valley Advisors LLC boosted its holdings in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC boosted its holdings in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after buying an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC boosted its holdings in Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the last quarter. Kozak & Associates Inc. boosted its holdings in Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in Meta Platforms by 0.5% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after buying an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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.