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

Meta Platforms (NASDAQ:FBGet Rating) had its price target decreased by equities researchers at Susquehanna from $375.00 to $290.00 in a research note issued on Thursday, The Fly reports. Susquehanna’s target price points to a potential upside of 65.76% from the company’s current price.

Several other research firms have also weighed in on FB. Piper Sandler dropped their price objective on shares of Meta Platforms from $240.00 to $230.00 in a report on Thursday. Sanford C. Bernstein lowered their price target on shares of Meta Platforms from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. Monness Crespi & Hardt lowered their price target 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. MKM Partners lowered their price target on shares of Meta Platforms from $365.00 to $315.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Finally, Susquehanna Bancshares reduced their price objective on shares of Meta Platforms from $425.00 to $375.00 and set a “positive” rating on the stock in a research note on Thursday, February 3rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Buy” and a consensus price target of $322.00.

Shares of FB opened at $174.95 on Thursday. The stock has a market cap of $476.20 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.15 and a beta of 1.39. Meta Platforms has a 12 month low of $169.00 and a 12 month high of $384.33. The company has a 50-day moving average price of $207.88 and a two-hundred day moving average price of $278.80.

Meta Platforms (NASDAQ:FBGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.66 by $0.06. Meta Platforms had a net margin of 33.38% and a return on equity of 29.71%. During the same quarter last year, the business earned $3.30 earnings per share. On average, analysts expect that Meta Platforms will post 12.05 earnings per share for the current fiscal year.

In related news, insider Jennifer Newstead sold 125 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $314.46, for a total value of $39,307.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David M. Wehner sold 1,095 shares of the business’s 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 7,751 shares of company stock worth $1,669,746. 14.01% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Meta Platforms by 1.2% in the 4th quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company’s stock valued at $53,177,378,000 after purchasing an additional 1,909,538 shares in the last quarter. State Street Corp boosted its position in Meta Platforms by 2.0% during the 4th quarter. State Street Corp now owns 94,303,590 shares of the social networking company’s stock worth $31,719,012,000 after buying an additional 1,887,737 shares during the period. Capital International Investors boosted its position in Meta Platforms by 5.9% during 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 buying an additional 2,888,336 shares during the period. Capital World Investors boosted its position in Meta Platforms by 0.4% during the 3rd quarter. Capital World Investors now owns 46,286,895 shares of the social networking company’s stock worth $15,709,316,000 after buying an additional 173,316 shares during the period. Finally, Geode Capital Management LLC boosted its position in Meta Platforms by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company’s stock worth $13,629,910,000 after buying an additional 950,662 shares during the period. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

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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