Meta Platforms (NASDAQ:META) Price Target Raised to $730.00 at Wolfe Research

Meta Platforms (NASDAQ:META) had its target price upped by Wolfe Research from $670.00 to $730.00 in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has an “outperform” rating on the social networking company’s stock. Wolfe Research’s price target points to a potential upside of 20.73% from the company’s current price.

Other equities research analysts have also issued reports about the company. BMO Capital Markets upped their price objective on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Citigroup upped their price target on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Roth Mkm upped their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.88.

Meta Platforms Stock Up 0.9 %

META opened at $604.63 on Friday. The company has a market capitalization of $1.53 trillion, a P/E ratio of 28.48, a P/E/G ratio of 1.39 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm’s fifty day moving average price is $589.88 and its two-hundred day moving average price is $549.21. Meta Platforms has a fifty-two week low of $343.40 and a fifty-two week high of $638.40.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, analysts anticipate that Meta Platforms will post 22.68 EPS for the current year.

Insider Activity

In related news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,116 shares of company stock valued at $198,171,544 in the last quarter. Company insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently added to or reduced their stakes in META. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at approximately $36,000. Halpern Financial Inc. bought a new stake in Meta Platforms in the 3rd quarter valued at approximately $46,000. West Financial Advisors LLC acquired a new position in Meta Platforms during the 3rd quarter worth approximately $49,000. Finally, Hoese & Co LLP grew its stake in shares of Meta Platforms by 2,000.0% during the 3rd quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock worth $60,000 after acquiring an additional 100 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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.