Meta Platforms (NASDAQ:FB) Price Target Cut to $250.00

Meta Platforms (NASDAQ:FBGet Rating) had its price target reduced by analysts at Guggenheim from $275.00 to $250.00 in a research note issued to investors on Wednesday, The Fly reports. Guggenheim’s target price suggests a potential upside of 23.38% from the company’s previous close.

Several other brokerages have also commented on FB. Monness Crespi & Hardt cut their price target on Meta Platforms from $460.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 3rd. Susquehanna cut their price target on Meta Platforms from $375.00 to $290.00 in a research note on Thursday, April 28th. Deutsche Bank Aktiengesellschaft started coverage on Meta Platforms in a research note on Friday, March 11th. They set a “buy” rating and a $265.00 price target on the stock. Cowen cut their price target on Meta Platforms from $415.00 to $330.00 and set an “outperform” rating on the stock in a research note on Thursday, February 3rd. Finally, StockNews.com started coverage on Meta Platforms in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of “Buy” and a consensus target price of $315.28.

FB stock opened at $202.62 on Wednesday. The business’s fifty day simple moving average is $208.02 and its two-hundred day simple moving average is $266.30. Meta Platforms has a twelve month low of $169.00 and a twelve month high of $384.33. The firm has a market cap of $548.35 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.26 and a beta of 1.37.

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 28.74% and a net margin of 31.20%. During the same period last year, the business earned $3.30 EPS. As a group, equities research analysts forecast that Meta Platforms will post 11.63 earnings per share for the current fiscal year.

In other news, CAO Susan J.S. Taylor sold 2,272 shares of the business’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $214.00, for a total value of $486,208.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Wehner sold 1,222 shares of the business’s stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $198.62, for a total value of $242,713.64. Following the completion of the sale, the chief financial officer now owns 12,247 shares of the company’s stock, valued at $2,432,499.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,360 shares of company stock valued at $9,770,477. 13.59% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of FB. OLD Mission Capital LLC purchased a new stake in shares of Meta Platforms during the third quarter worth approximately $251,000. New World Advisors LLC increased its position in shares of Meta Platforms by 170.8% during the third quarter. New World Advisors LLC now owns 2,248 shares of the social networking company’s stock worth $730,000 after purchasing an additional 1,418 shares in the last quarter. Banque Pictet & Cie SA increased its position in shares of Meta Platforms by 5.6% during the third quarter. Banque Pictet & Cie SA now owns 783,981 shares of the social networking company’s stock worth $266,075,000 after purchasing an additional 41,247 shares in the last quarter. Pictet & Cie Europe SA increased its position in shares of Meta Platforms by 6.1% during the third quarter. Pictet & Cie Europe SA now owns 313,116 shares of the social networking company’s stock worth $106,268,000 after purchasing an additional 18,040 shares in the last quarter. Finally, Bank Pictet & Cie Asia Ltd. increased its position in shares of Meta Platforms by 29.5% during the third quarter. Bank Pictet & Cie Asia Ltd. now owns 17,172 shares of the social networking company’s stock worth $5,828,000 after purchasing an additional 3,912 shares in the last quarter. Hedge funds and other institutional investors own 65.49% 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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