Meta Platforms (NASDAQ:META) PT Raised to $562.00

Meta Platforms (NASDAQ:META) had its price objective raised by Rosenblatt Securities from $520.00 to $562.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. Rosenblatt Securities’ price target suggests a potential upside of 26.78% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley boosted their target price on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Robert W. Baird increased their price objective on Meta Platforms from $385.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Guggenheim increased their price target on Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Bank of America upped their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Evercore ISI lifted their target price on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Stock Up 0.4 %

Meta Platforms stock opened at $443.29 on Thursday. The firm has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. The firm’s fifty day moving average price is $494.48 and its two-hundred day moving average price is $404.27. Meta Platforms has a 1-year low of $229.85 and a 1-year high of $531.49. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, equities research analysts predict that Meta Platforms will post 20.18 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now directly owns 76,398 shares in the company, valued at approximately $36,157,645.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. Insiders have sold a total of 1,349,148 shares of company stock worth $649,552,559 over the last quarter. Corporate insiders own 13.75% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently modified their holdings of META. Stone House Investment Management LLC lifted its stake in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC grew its stake in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at approximately $32,000. PayPay Securities Corp lifted its stake in shares of Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares during the period. Finally, Clear Investment Research LLC boosted its holdings in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, 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, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.