Meta Platforms, Inc. (NASDAQ:FB) to Post Q3 2022 Earnings of $2.49 Per Share, KeyCorp Forecasts

Meta Platforms, Inc. (NASDAQ:FBGet Rating) – Stock analysts at KeyCorp dropped their Q3 2022 EPS estimates for shares of Meta Platforms in a note issued to investors on Tuesday, April 19th. KeyCorp analyst J. Patterson now expects that the social networking company will post earnings of $2.49 per share for the quarter, down from their previous estimate of $2.85. KeyCorp currently has a “Overweight” rating and a $280.00 price target on the stock. KeyCorp also issued estimates for Meta Platforms’ Q4 2022 earnings at $3.30 EPS and FY2023 earnings at $12.69 EPS.

Meta Platforms (NASDAQ:FBGet Rating) last issued its earnings results on Wednesday, February 2nd. The social networking company reported $3.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 return on equity of 29.71% and a net margin of 33.38%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.88 EPS.

Several other analysts have also recently commented on the company. DZ Bank cut Meta Platforms from a “hold” rating to a “sell” rating and set a $225.00 target price on the stock. in a report on Friday, February 4th. Atlantic Securities reduced their price objective on shares of Meta Platforms from $420.00 to $360.00 and set an “overweight” rating for the company in a research note on Thursday, February 3rd. Citigroup raised shares of Meta Platforms from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $258.00 to $300.00 in a research note on Wednesday. Monness Crespi & Hardt lowered their price objective on shares of Meta Platforms from $460.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Meta Platforms from $245.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, April 13th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $328.63.

Shares of NASDAQ FB opened at $188.07 on Friday. The stock has a 50-day moving average price of $210.60 and a two-hundred day moving average price of $283.26. Meta Platforms has a 12 month low of $185.58 and a 12 month high of $384.33. The company has a market cap of $511.92 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.27 and a beta of 1.39.

In related news, insider Jennifer Newstead sold 476 shares of the company’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $210.70, for a total value of $100,293.20. Following the completion of the transaction, the insider now directly owns 13,450 shares in the company, valued at $2,833,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Susan J.S. Taylor sold 2,272 shares of the stock in a transaction dated 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. Insiders have sold a total of 7,876 shares of company stock worth $1,707,217 in the last 90 days. 14.01% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FB. Norges Bank bought a new position in Meta Platforms during the fourth quarter valued at about $9,595,113,000. Dodge & Cox increased its position 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 valued at $2,238,518,000 after buying an additional 2,931,894 shares in the last quarter. Capital International Investors boosted 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 worth $17,413,576,000 after purchasing an additional 2,888,336 shares during the period. HS Management Partners LLC boosted 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 worth $182,104,000 after purchasing an additional 2,325,382 shares during the period. Finally, TD Asset Management Inc. boosted its stake 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 worth $2,060,059,000 after purchasing an additional 2,114,636 shares during the period. 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.

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

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