KeyCorp Brokers Boost Earnings Estimates for Meta Platforms, Inc. (NASDAQ:META)

Meta Platforms, Inc. (NASDAQ:METAGet Rating) – Equities research analysts at KeyCorp increased their Q3 2022 earnings per share (EPS) estimates for shares of Meta Platforms in a research note issued on Wednesday, July 27th. KeyCorp analyst J. Patterson now anticipates that the social networking company will post earnings per share of $2.01 for the quarter, up from their previous estimate of $1.77. KeyCorp currently has a “Maintains” rating on the stock. The consensus estimate for Meta Platforms’ current full-year earnings is $11.22 per share. KeyCorp also issued estimates for Meta Platforms’ FY2022 earnings at $9.76 EPS and FY2023 earnings at $11.02 EPS.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.08). The firm had revenue of $28.82 billion for the quarter, compared to analysts’ expectations of $28.95 billion. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.61 EPS.

A number of other equities analysts also recently issued reports on META. Wedbush cut their target price on Meta Platforms from $270.00 to $220.00 in a research note on Thursday, April 28th. Truist Financial decreased their target price on shares of Meta Platforms from $320.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday. Wolfe Research cut their price target on shares of Meta Platforms from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday. Susquehanna Bancshares decreased their price objective on shares of Meta Platforms from $375.00 to $290.00 in a report on Thursday, April 28th. Finally, Mizuho reaffirmed a “maintains” rating on shares of Meta Platforms in a report on Thursday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.70.

Meta Platforms Stock Down 1.0 %

NASDAQ META opened at $159.10 on Monday. The stock has a market capitalization of $430.58 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.32 and a beta of 1.40. Meta Platforms has a 52-week low of $154.25 and a 52-week high of $384.33. The firm has a 50-day moving average price of $173.03 and a 200 day moving average price of $207.19.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 622 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $210.78, for a total value of $131,105.16. Following the completion of the sale, the insider now owns 12,498 shares of the company’s stock, valued at $2,634,328.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 622 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $210.78, for a total value of $131,105.16. Following the completion of the sale, the insider now owns 12,498 shares in the company, valued at $2,634,328.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marne L. Levine sold 10,252 shares of the business’s stock in a transaction that occurred on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total value of $2,036,252.24. Following the transaction, the insider now directly owns 23,010 shares in the company, valued at $4,570,246.20. The disclosure for this sale can be found here. Insiders have sold a total of 45,516 shares of company stock valued at $9,035,749 over the last ninety days. Corporate insiders own 13.59% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Large investors have recently added to or reduced their stakes in the company. Tranquility Partners LLC grew its stake in Meta Platforms by 2.5% during the 4th quarter. Tranquility Partners LLC now owns 4,566 shares of the social networking company’s stock valued at $1,536,000 after purchasing an additional 113 shares in the last quarter. Del Sette Capital Management LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $523,000. Riverwater Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $439,000. RDA Financial Network increased its stake in shares of Meta Platforms by 8.8% in the fourth quarter. RDA Financial Network now owns 10,304 shares of the social networking company’s stock worth $3,466,000 after buying an additional 831 shares during the last quarter. Finally, Gratus Capital LLC raised its holdings in Meta Platforms by 1,673.6% in the fourth quarter. Gratus Capital LLC now owns 13,923 shares of the social networking company’s stock valued at $4,683,000 after acquiring an additional 13,138 shares in the last quarter. 65.49% 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.

Featured Articles

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

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.