Meta Platforms (NASDAQ:META) Price Target Raised to $875.00

Meta Platforms (NASDAQ:METAGet Free Report) had its target price increased by equities research analysts at Pivotal Research from $800.00 to $875.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. Pivotal Research’s target price suggests a potential upside of 29.34% from the stock’s current price.

A number of other analysts have also recently issued reports on META. JMP Securities reissued a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Monday. The Goldman Sachs Group raised their target price on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Rosenblatt Securities restated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a report on Monday. Raymond James raised their target price on Meta Platforms from $675.00 to $725.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Guggenheim lifted their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $671.64.

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Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $676.49 on Thursday. The stock has a market cap of $1.71 trillion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The business has a fifty day simple moving average of $608.52 and a 200-day simple moving average of $563.58. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms has a 12 month low of $387.10 and a 12 month high of $682.58.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. During the same period in the previous year, the firm earned $5.33 earnings per share. On average, sell-side analysts anticipate that Meta Platforms will post 22.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of the business’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 completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 661,312 shares of company stock worth $407,377,422 in the last quarter. Insiders own 13.71% of the company’s stock.

Institutional Trading of Meta Platforms

Several institutional investors and hedge funds have recently made changes to their positions in META. JDM Financial Group LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the 4th quarter valued at $41,000. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $49,000. Institutional investors own 79.91% of the company’s stock.

About Meta Platforms

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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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