Meta Platforms (NASDAQ:META) PT Raised to $811.00

Meta Platforms (NASDAQ:META) had its price target increased by stock analysts at Rosenblatt Securities from $643.00 to $811.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the social networking company’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 42.94% from the company’s previous close.

A number of other analysts have also weighed in on META. Robert W. Baird upped their target price on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their price objective on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research note on Thursday. KeyCorp increased their price target on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Tigress Financial raised their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $591.23.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $567.36 on Thursday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average price is $516.19 and its 200-day moving average price is $499.60. The firm has a market cap of $1.44 trillion, a P/E ratio of 32.59, a P/E/G ratio of 1.39 and a beta of 1.21. Meta Platforms has a 12 month low of $279.40 and a 12 month high of $577.40.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm posted $3.23 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts expect that Meta Platforms will post 21.36 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 342,358 shares of company stock worth $179,431,101. 13.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of META. Capital Research Global Investors lifted its position in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management raised its stake in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Jennison Associates LLC boosted its stake in Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the second quarter worth $595,152,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

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.