Meta Platforms (NASDAQ:META) Earns “Overweight” Rating from KeyCorp

Meta Platforms (NASDAQ:META)‘s stock had its “overweight” rating reaffirmed by KeyCorp in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $900.00 target price on the social networking company’s stock. KeyCorp’s target price suggests a potential upside of 21.42% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Moffett Nathanson decreased their price target on Meta Platforms from $800.00 to $740.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. President Capital upgraded Meta Platforms from a “neutral” rating to a “buy” rating and increased their price objective for the company from $660.00 to $897.00 in a research note on Thursday, September 24th. DZ Bank reiterated a “buy” rating on shares of Meta Platforms in a research note on Thursday, July 30th. Cantor Fitzgerald reduced their price objective on Meta Platforms from $860.00 to $840.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Jefferies Financial Group increased their price objective on Meta Platforms from $710.00 to $875.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $796.12.

Meta Platforms Stock Down 0.2%

NASDAQ:META opened at $741.24 on Tuesday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $644.04 and its two-hundred day moving average is $621.26. Meta Platforms has a 52 week low of $520.26 and a 52 week high of $779.82. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%. The firm had revenue of $60.80 billion for the quarter, compared to analyst estimates of $60.22 billion. During the same quarter last year, the company earned $7.14 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. Research analysts anticipate that Meta Platforms will post 27.94 EPS for the current year.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 7,848 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total value of $4,379,184.00. Following the transaction, the chief technology officer owned 828 shares of the company’s stock, valued at $462,024. This represents a 90.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan Li sold 9,196 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $550.61, for a total value of $5,063,409.56. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares in the company, valued at $7,260,343.46. This trade represents a 41.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 148,222 shares of company stock valued at $101,033,627 over the last ninety days. Company insiders own 13.53% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds have recently made changes to their positions in the company. Advantage Trust Co acquired a new stake in Meta Platforms in the second quarter valued at about $28,000. Philadelphia Investment Partners LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at approximately $32,000. Horizons Wealth Management purchased a new position in shares of Meta Platforms during the 3rd quarter worth approximately $33,000. Axiom Investment Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter worth approximately $36,000. Finally, Schuylkill Financial LLC purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta introduced Muse Wonder and Muse Wonder Full, its first “frontier” AI models, claiming performance comparable with leading offerings from OpenAI and Anthropic. The models are intended to improve Meta’s AI assistant and support complex, multistep tasks. Reuters article
• Positive Sentiment: Third-party app data reportedly showed Muse’s early retention rates rivaling ChatGPT, easing concerns about user adoption and helping drive the stock higher. Meta is also testing a monetization model with $20 and $100 monthly subscription tiers. Why Meta Stock Is Up Today
• Positive Sentiment: Wall Street remains constructive: KeyCorp reaffirmed an overweight rating with a $900 target, while Rosenblatt reiterated buy with an $886 target. Truist also believes Meta may have further upside following the Muse announcement. Barron’s Meta Stock Analysis

About Meta Platforms

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company operates a global family of apps that includes Facebook, Instagram, Messenger, WhatsApp and Threads, enabling users to connect, communicate, share content and discover communities.

Meta generates most of its business through digital advertising displayed across its platforms. Its products serve individuals, creators, businesses and organizations in markets around the world, while its advertising tools help businesses reach audiences based on factors such as interests, activity and demographics.

Through its Reality Labs division, Meta develops virtual and augmented reality hardware, software and services, including the Meta Quest line of headsets and related experiences.