Wedbush Comments on Meta Platforms, Inc.’s FY2022 Earnings (NASDAQ:FB)

Meta Platforms, Inc. (NASDAQ:FBGet Rating) – Equities research analysts at Wedbush dropped their FY2022 earnings per share (EPS) estimates for shares of Meta Platforms in a research note issued on Wednesday, April 20th. Wedbush analyst Y. Arounian now anticipates that the social networking company will post earnings per share of $11.61 for the year, down from their previous estimate of $11.68. Wedbush currently has a “Neutral” rating on the stock. Wedbush also issued estimates for Meta Platforms’ Q4 2022 earnings at $3.28 EPS and FY2023 earnings at $13.75 EPS.

Meta Platforms (NASDAQ:FBGet Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The social networking company reported $3.67 earnings per share for the quarter, missing the consensus estimate of $3.78 by ($0.11). Meta Platforms had a net margin of 33.38% and a return on equity of 29.71%. The company had revenue of $33.67 billion for the quarter, compared to analyst estimates of $33.44 billion. During the same quarter in the prior year, the company posted $3.88 EPS. Meta Platforms’s revenue for the quarter was up 19.8% on a year-over-year basis.

FB has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Meta Platforms in a report on Friday, March 11th. They issued a “buy” rating and a $265.00 price target on the stock. Citigroup raised shares of Meta Platforms from a “neutral” rating to a “buy” rating and raised their target price for the stock from $258.00 to $300.00 in a research report on Wednesday. MKM Partners dropped their target price on shares of Meta Platforms from $365.00 to $315.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Benchmark began coverage on shares of Meta Platforms in a research report on Tuesday, March 1st. They issued a “hold” rating for the company. Finally, Susquehanna Bancshares lowered their price target on shares of Meta Platforms from $425.00 to $375.00 and set a “positive” rating for the company in a research report on Thursday, February 3rd. One investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $328.63.

Shares of FB stock 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 stock has a market capitalization of $545.53 billion, a P/E ratio of 14.52, a PEG ratio of 1.27 and a beta of 1.39. The firm’s 50 day moving average is $211.23 and its 200 day moving average is $283.92.

In other Meta Platforms news, insider Jennifer Newstead sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $314.46, for a total value of $39,307.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Susan J.S. Taylor sold 2,272 shares of the business’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $214.00, for a total value of $486,208.00. 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 currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at about $251,000. Valeo Financial Advisors LLC grew its holdings in shares of Meta Platforms by 9.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 75,450 shares of the social networking company’s stock worth $12,252,000 after acquiring an additional 6,206 shares during the last quarter. Old North State Trust LLC grew its holdings in shares of Meta Platforms by 5.6% in the 3rd quarter. Old North State Trust LLC now owns 1,536 shares of the social networking company’s stock worth $521,000 after acquiring an additional 82 shares during the last quarter. Vista Wealth Management Group LLC grew its holdings in shares of Meta Platforms by 9.8% during the third quarter. Vista Wealth Management Group LLC now owns 10,627 shares of the social networking company’s stock valued at $3,607,000 after buying an additional 951 shares in the last quarter. Finally, Chronos Wealth Management LLC boosted its position in Meta Platforms by 20.3% during the third quarter. Chronos Wealth Management LLC now owns 4,919 shares of the social networking company’s stock valued at $1,669,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

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.

Further Reading

Earnings History and Estimates for Meta Platforms (NASDAQ:FB)

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