FY2022 EPS Estimates for Meta Platforms, Inc. (NASDAQ:FB) Lifted by KeyCorp

Meta Platforms, Inc. (NASDAQ:FBGet Rating) – Equities researchers at KeyCorp raised their FY2022 earnings estimates for shares of Meta Platforms in a note issued to investors on Wednesday, April 27th. KeyCorp analyst J. Patterson now anticipates that the social networking company will post earnings of $10.80 per share for the year, up from their prior estimate of $10.53. KeyCorp currently has a “Overweight” rating and a $280.00 price target on the stock.

FB has been the topic of a number of other reports. Barclays dropped their price target on shares of Meta Platforms from $420.00 to $350.00 and set an “overweight” rating on the stock in a research note on Thursday, February 3rd. Oppenheimer decreased their price target on shares of Meta Platforms from $405.00 to $375.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. Canaccord Genuity Group decreased their price target on shares of Meta Platforms from $360.00 to $330.00 in a report on Thursday. KGI Securities restated a “neutral” rating and set a $270.00 price target on shares of Meta Platforms in a report on Tuesday, February 8th. Finally, Cowen decreased their price target on shares of Meta Platforms from $415.00 to $330.00 and set an “outperform” rating for the company in a report 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $316.80.

NASDAQ FB opened at $200.47 on Monday. The stock has a market capitalization of $545.67 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.26 and a beta of 1.39. Meta Platforms has a 1 year low of $169.00 and a 1 year high of $384.33. The business’s fifty day moving average is $207.76 and its two-hundred day moving average is $276.78.

Meta Platforms (NASDAQ:FBGet Rating) last released its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.06. Meta Platforms had a return on equity of 28.25% and a net margin of 31.20%. During the same period in the prior year, the business earned $3.30 earnings per share.

A number of hedge funds and other institutional investors have recently made changes to their positions in FB. Patten & Patten Inc. TN boosted its stake in shares of Meta Platforms by 35.1% in the 1st quarter. Patten & Patten Inc. TN now owns 2,955 shares of the social networking company’s stock valued at $657,000 after purchasing an additional 767 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Meta Platforms by 15.2% in the 1st quarter. Versant Capital Management Inc now owns 2,097 shares of the social networking company’s stock valued at $466,000 after purchasing an additional 277 shares during the last quarter. Markel Corp boosted its stake in shares of Meta Platforms by 10.6% in the 1st quarter. Markel Corp now owns 163,400 shares of the social networking company’s stock valued at $36,334,000 after purchasing an additional 15,597 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of Meta Platforms by 1.8% in the 1st quarter. Whittier Trust Co. now owns 172,179 shares of the social networking company’s stock valued at $38,285,000 after purchasing an additional 3,012 shares during the last quarter. Finally, Waycross Partners LLC boosted its stake in shares of Meta Platforms by 12.2% in the 1st quarter. Waycross Partners LLC now owns 13,556 shares of the social networking company’s stock valued at $3,014,000 after purchasing an additional 1,477 shares during the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

In other news, insider Jennifer Newstead sold 125 shares of Meta Platforms 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Wehner sold 1,095 shares of Meta Platforms stock in a transaction dated Tuesday, February 15th. The stock was 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. Insiders sold a total of 8,081 shares of company stock worth $1,731,333 over the last quarter. Company insiders own 13.59% 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.

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