Meta Platforms (NASDAQ:FB) Rating Reiterated by Wedbush

Meta Platforms (NASDAQ:FBGet Rating)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a note issued to investors on Wednesday, Zacks.com reports. Wedbush also issued estimates for Meta Platforms’ Q4 2022 earnings at $3.28 EPS, FY2022 earnings at $11.61 EPS and FY2023 earnings at $13.75 EPS.

Other equities research analysts have also issued reports about the stock. MKM Partners decreased their price target 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. Jefferies Financial Group reduced their target price on shares of Meta Platforms from $420.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, February 3rd. Loop Capital lowered shares of Meta Platforms from a “buy” rating to a “hold” rating and reduced their target price for the stock from $380.00 to $230.00 in a report on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Meta Platforms in a report on Friday, March 11th. They set a “buy” rating and a $265.00 target price on the stock. Finally, The Goldman Sachs Group reduced their target price on shares of Meta Platforms from $445.00 to $355.00 and set a “buy” rating on the stock in a report on Thursday, February 3rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $330.02.

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

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). The company had revenue of $33.67 billion for the quarter, compared to the consensus estimate of $33.44 billion. Meta Platforms had a net margin of 33.38% and a return on equity of 29.71%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the firm posted $3.88 earnings per share. As a group, equities research analysts forecast that Meta Platforms will post 12.37 EPS for the current fiscal year.

In related news, insider Jennifer Newstead sold 476 shares of the stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $220.04, for a total transaction of $104,739.04. Following the completion of the transaction, the insider now owns 13,926 shares in the company, valued at $3,064,277.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David M. Wehner sold 1,095 shares of the stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $217.70, for a total transaction of $238,381.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,400 shares of company stock valued at $1,606,924. Company insiders own 14.01% of the company’s stock.

A number of large investors have recently modified their holdings of FB. Transcend Capital Advisors LLC increased its holdings in Meta Platforms by 30.4% during the 1st quarter. Transcend Capital Advisors LLC now owns 36,287 shares of the social networking company’s stock worth $8,069,000 after acquiring an additional 8,461 shares during the period. Leith Wheeler Investment Counsel Ltd. bought a new stake in Meta Platforms during the 1st quarter worth approximately $1,186,000. Kessler Investment Group LLC bought a new stake in Meta Platforms during the 1st quarter worth approximately $6,041,000. Elevated Capital Advisors LLC bought a new stake in Meta Platforms during the 1st quarter worth approximately $1,554,000. Finally, Sigma Planning Corp increased its holdings in Meta Platforms by 4.6% during the 1st quarter. Sigma Planning Corp now owns 63,040 shares of the social networking company’s stock worth $14,018,000 after acquiring an additional 2,798 shares during the period. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Meta Platforms Company Profile (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.

Read More

Analyst Recommendations for Meta Platforms (NASDAQ:FB)

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.