Credit Suisse Group Cuts Meta Platforms (NASDAQ:FB) Price Target to $272.00

Meta Platforms (NASDAQ:FBGet Rating) had its price target reduced by analysts at Credit Suisse Group from $336.00 to $272.00 in a research report issued on Thursday, The Fly reports. Credit Suisse Group’s price objective would indicate a potential upside of 35.71% from the company’s previous close.

Other research analysts also recently issued reports about the stock. JMP Securities decreased their target price on shares of Meta Platforms from $350.00 to $265.00 and set a “market outperform” rating on the stock in a research note on Tuesday. Jefferies Financial Group cut their target price on shares of Meta Platforms from $420.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. MKM Partners reduced their price objective on shares of Meta Platforms from $365.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Monness Crespi & Hardt reduced their price target on shares of Meta Platforms from $460.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd. Finally, Evercore ISI reduced their price objective on Meta Platforms from $430.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $328.63.

Shares of FB opened at $200.42 on Thursday. Meta Platforms has a 12-month low of $185.82 and a 12-month high of $384.33. The company’s 50-day moving average price is $211.23 and its 200 day moving average price is $283.92. The firm has a market cap of $545.53 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Meta Platforms (NASDAQ:FBGet Rating) last issued its quarterly earnings results on Wednesday, February 2nd. The social networking company reported $3.67 EPS for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.11). The business had revenue of $33.67 billion for the quarter, compared to analyst estimates of $33.44 billion. Meta Platforms had a net margin of 33.38% and a return on equity of 29.71%. Meta Platforms’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the business posted $3.88 earnings per share. As a group, research analysts anticipate that Meta Platforms will post 12.37 earnings per share for the current year.

In related news, CAO Susan J.S. Taylor sold 2,272 shares of Meta Platforms stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $214.00, for a total transaction of $486,208.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 125 shares of Meta Platforms stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $314.46, for a total transaction of $39,307.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,400 shares of company stock valued at $1,606,924. 14.01% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in FB. Norges Bank purchased a new stake in Meta Platforms during the 4th quarter worth approximately $9,595,113,000. Dodge & Cox grew its holdings in shares of Meta Platforms by 78.7% in the 4th quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock worth $2,238,518,000 after acquiring an additional 2,931,894 shares during the period. Capital International Investors lifted its stake in Meta Platforms by 5.9% in the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock valued at $17,413,576,000 after buying an additional 2,888,336 shares in the last quarter. HS Management Partners LLC lifted its stake in Meta Platforms by 463.7% in the 4th quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock valued at $182,104,000 after buying an additional 2,325,382 shares in the last quarter. Finally, TD Asset Management Inc. grew its holdings in Meta Platforms by 52.7% in the 4th quarter. TD Asset Management Inc. now owns 6,124,750 shares of the social networking company’s stock valued at $2,060,059,000 after buying an additional 2,114,636 shares during the period. 65.64% of the stock is owned by institutional investors and hedge funds.

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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