Raymond James Increases Meta Platforms (NASDAQ:META) Price Target to $650.00

Meta Platforms (NASDAQ:METAGet Free Report) had its target price raised by equities research analysts at Raymond James from $600.00 to $650.00 in a report released on Thursday, Benzinga reports. The firm presently has a “strong-buy” rating on the social networking company’s stock. Raymond James’ price objective indicates a potential upside of 10.62% from the company’s current price.

Several other analysts also recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JMP Securities raised their target price on Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. The Goldman Sachs Group lifted their price objective on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, DA Davidson assumed coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $608.58.

View Our Latest Report on META

Meta Platforms Stock Down 0.5 %

META opened at $587.62 on Thursday. Meta Platforms has a 1 year low of $279.40 and a 1 year high of $602.95. The firm has a 50 day moving average price of $534.36 and a 200 day moving average price of $504.36. The company has a market cap of $1.49 trillion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the firm earned $3.23 EPS. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Sell-side analysts expect that Meta Platforms will post 21.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 14,874 shares of Meta Platforms stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $503.38, for a total value of $7,487,274.12. Following the transaction, the chief executive officer now directly owns 135,442 shares in the company, valued at approximately $68,178,793.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 266,412 shares of company stock worth $140,058,708. Company insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently modified their holdings of META. Delos Wealth Advisors LLC increased its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Meta Platforms in the first quarter worth approximately $44,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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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.

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