Susquehanna Bancshares Trims Meta Platforms (NASDAQ:FB) Target Price to $290.00

Meta Platforms (NASDAQ:FBGet Rating) had its price target reduced by Susquehanna Bancshares from $375.00 to $290.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Susquehanna Bancshares’ price target would indicate a potential upside of 65.76% from the company’s previous close.

FB has been the subject of several other research reports. Wedbush lowered their price target on shares of Meta Platforms from $270.00 to $220.00 in a report on Thursday. Canaccord Genuity Group dropped their price objective on Meta Platforms from $420.00 to $360.00 and set a “buy” rating on the stock in a research note on Thursday, February 3rd. Loop Capital lowered Meta Platforms from a “buy” rating to a “hold” rating and dropped their price target for the company from $380.00 to $230.00 in a research note on Thursday, February 3rd. Barclays reduced their price objective on shares of Meta Platforms from $420.00 to $350.00 and set an “overweight” rating for the company in a research report on Thursday, February 3rd. Finally, downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, February 24th. One research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $317.89.

Shares of NASDAQ FB opened at $174.95 on Thursday. The company has a 50 day simple moving average of $207.88 and a 200 day simple moving average of $278.80. Meta Platforms has a 1 year low of $169.00 and a 1 year high of $384.33. The firm has a market cap of $476.20 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39.

Meta Platforms (NASDAQ:FBGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.06. Meta Platforms had a return on equity of 29.71% and a net margin of 33.38%. During the same period last year, the firm posted $3.30 EPS. Analysts predict that Meta Platforms will post 12.05 EPS for the current year.

In other 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 value of $238,381.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction on Tuesday, April 19th. The shares were 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 owns 13,450 shares of the company’s stock, valued at $2,833,915. The disclosure for this sale can be found here. Insiders have sold a total of 7,751 shares of company stock valued at $1,669,746 in the last quarter. 14.01% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. OLD Mission Capital LLC bought a new position in shares of Meta Platforms in the third quarter worth $251,000. Segall Bryant & Hamill LLC grew its position in Meta Platforms by 0.8% during the third quarter. Segall Bryant & Hamill LLC now owns 4,993 shares of the social networking company’s stock worth $1,694,000 after buying an additional 40 shares in the last quarter. New World Advisors LLC increased its stake in Meta Platforms by 170.8% in the 3rd quarter. New World Advisors LLC now owns 2,248 shares of the social networking company’s stock worth $730,000 after acquiring an additional 1,418 shares during the last quarter. TCTC Holdings LLC raised its holdings in shares of Meta Platforms by 109.1% in the 3rd quarter. TCTC Holdings LLC now owns 1,840 shares of the social networking company’s stock valued at $624,000 after acquiring an additional 960 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its position in shares of Meta Platforms by 3.3% during the 3rd quarter. Tortoise Investment Management LLC now owns 1,089 shares of the social networking company’s stock valued at $370,000 after acquiring an additional 35 shares during the last quarter. 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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