Meta Platforms (NASDAQ:META – Get Free Report)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a research note issued on Monday,Benzinga reports. They presently have a $811.00 price target on the social networking company’s stock. Rosenblatt Securities’ target price points to a potential upside of 20.27% from the company’s current price.
A number of other analysts also recently issued reports on the stock. KeyCorp boosted their price objective on shares of Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, January 10th. JMP Securities boosted their price target on Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research note on Thursday, January 2nd. Wolfe Research raised their price objective on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Sanford C. Bernstein lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Wedbush reissued an “outperform” rating and set a $700.00 target price (up from $680.00) on shares of Meta Platforms in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $654.20.
View Our Latest Stock Analysis on Meta Platforms
Meta Platforms Stock Performance
Meta Platforms (NASDAQ:META – Get Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Research analysts anticipate that Meta Platforms will post 22.96 earnings per share for the current year.
Insider Transactions at Meta Platforms
In other news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the transaction, the insider now owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This represents a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $567.58, for a total value of $234,410.54. Following the completion of the sale, the chief operating officer now directly owns 10,294 shares of the company’s stock, valued at $5,842,668.52. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 602,612 shares of company stock valued at $368,414,542 in the last quarter. 13.71% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Meta Platforms
A number of hedge funds have recently added to or reduced their stakes in the company. JDM Financial Group LLC bought a new position in shares of Meta Platforms in the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter valued at $41,000. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the third quarter worth about $46,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter worth about $49,000. Institutional investors and hedge funds 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.
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