Meta Platforms (NASDAQ:FB) Research Coverage Started at Rosenblatt Securities

Stock analysts at Rosenblatt Securities started coverage on shares of Meta Platforms (NASDAQ:FBGet Rating) in a report released on Tuesday, The Fly reports. The firm set a “neutral” rating on the social networking company’s stock.

FB has been the subject of several other reports. MKM Partners lowered their price target on Meta Platforms from $365.00 to $315.00 and set a “buy” rating for the company in a report on Thursday, April 14th. StockNews.com began coverage on Meta Platforms in a report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley decreased their price objective on Meta Platforms from $360.00 to $325.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Credit Suisse Group decreased their price objective on Meta Platforms from $430.00 to $336.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. Finally, Susquehanna decreased their price objective on Meta Platforms from $425.00 to $375.00 and set a “positive” rating for the company in a report on Thursday, February 3rd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $332.29.

Shares of Meta Platforms stock opened at $210.77 on Tuesday. Meta Platforms has a 1 year low of $185.82 and a 1 year high of $384.33. The business has a 50-day moving average of $212.08 and a two-hundred day moving average of $285.38. The company has a market capitalization of $573.70 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Meta Platforms (NASDAQ:FBGet Rating) last announced its quarterly earnings results on Wednesday, February 2nd. The social networking company reported $3.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.78 by ($0.11). Meta Platforms had a return on equity of 29.71% and a net margin of 33.38%. The business had revenue of $33.67 billion during the quarter, compared to the consensus estimate of $33.44 billion. During the same quarter last year, the company earned $3.88 earnings per share. The firm’s revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts expect that Meta Platforms will post 12.37 EPS for the current fiscal year.

In related news, CFO David M. Wehner sold 1,095 shares of the firm’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $217.70, for a total transaction of $238,381.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 125 shares of the firm’s stock in a transaction on Tuesday, January 25th. The shares were sold at an average price of $299.77, for a total value of $37,471.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,400 shares of company stock worth $1,606,924. Corporate insiders own 14.01% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FB. Barnett & Company Inc. boosted its holdings in shares of Meta Platforms by 105.0% during the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after acquiring an additional 42 shares in the last quarter. Rise Advisors LLC acquired a new position in Meta Platforms during the 4th quarter worth about $28,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Meta Platforms during the 4th quarter worth about $31,000. Benjamin Edwards Inc. acquired a new position in Meta Platforms during the 3rd quarter worth about $33,000. Finally, Advocacy Wealth Management Services LLC lifted its holdings in Meta Platforms by 65.9% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company’s stock worth $34,000 after buying an additional 60 shares during the period. 65.64% of the stock is currently owned by institutional investors.

About Meta Platforms (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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