Meta Platforms, Inc. Expected to Earn Q2 2023 Earnings of $2.56 Per Share (NASDAQ:META)

Meta Platforms, Inc. (NASDAQ:METAGet Rating) – Stock analysts at Oppenheimer upped their Q2 2023 earnings per share (EPS) estimates for Meta Platforms in a research note issued on Tuesday, March 14th. Oppenheimer analyst J. Helfstein now anticipates that the social networking company will post earnings per share of $2.56 for the quarter, up from their prior forecast of $2.18. Oppenheimer currently has a “Outperform” rating and a $260.00 price target on the stock. The consensus estimate for Meta Platforms’ current full-year earnings is $10.31 per share. Oppenheimer also issued estimates for Meta Platforms’ Q3 2023 earnings at $2.60 EPS, Q4 2023 earnings at $4.15 EPS, FY2023 earnings at $11.06 EPS, FY2024 earnings at $14.53 EPS and FY2025 earnings at $17.24 EPS.

Meta Platforms (NASDAQ:METAGet Rating) last posted its earnings results on Wednesday, February 1st. The social networking company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.88. Meta Platforms had a net margin of 19.90% and a return on equity of 21.23%. The business had revenue of $32.17 billion for the quarter, compared to analyst estimates of $31.69 billion. During the same quarter in the previous year, the business posted $3.67 EPS. The business’s quarterly revenue was down 4.5% on a year-over-year basis.

Other equities research analysts also recently issued research reports about the stock. Loop Capital upped their price target on shares of Meta Platforms from $165.00 to $188.00 and gave the company a “hold” rating in a research report on Wednesday, February 8th. Royal Bank of Canada increased their price target on shares of Meta Platforms from $160.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Morgan Stanley raised their price objective on shares of Meta Platforms from $130.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, February 2nd. Piper Sandler upgraded shares of Meta Platforms from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $136.00 to $215.00 in a research report on Thursday, February 2nd. Finally, Arete Research reiterated a “sell” rating on shares of Meta Platforms in a research report on Monday, March 6th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.27.

Meta Platforms Price Performance

NASDAQ META opened at $195.61 on Friday. The company has a 50-day moving average price of $166.42 and a two-hundred day moving average price of $140.22. The stock has a market cap of $507.15 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. Meta Platforms has a 52 week low of $88.09 and a 52 week high of $236.86. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.08.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $116.44, for a total transaction of $39,822.48. Following the sale, the insider now directly owns 25,819 shares in the company, valued at $3,006,364.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Marne L. Levine sold 23,317 shares of Meta Platforms stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $191.00, for a total value of $4,453,547.00. Following the completion of the sale, the insider now owns 4,136 shares of the company’s stock, valued at approximately $789,976. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $116.44, for a total transaction of $39,822.48. Following the transaction, the insider now directly owns 25,819 shares in the company, valued at $3,006,364.36. The disclosure for this sale can be found here. Insiders have sold a total of 68,342 shares of company stock worth $12,285,012 over the last ninety days. Insiders own 14.03% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in META. Laraway Financial Advisors Inc increased its position in shares of Meta Platforms by 2.9% during the first quarter. Laraway Financial Advisors Inc now owns 3,490 shares of the social networking company’s stock valued at $776,000 after buying an additional 100 shares during the period. Red Wave Investments LLC raised its holdings in Meta Platforms by 6.4% in the first quarter. Red Wave Investments LLC now owns 1,870 shares of the social networking company’s stock worth $416,000 after purchasing an additional 113 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in Meta Platforms by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 12,884 shares of the social networking company’s stock worth $2,078,000 after purchasing an additional 157 shares in the last quarter. Dimension Capital Management LLC grew its stake in shares of Meta Platforms by 4.9% in the second quarter. Dimension Capital Management LLC now owns 3,677 shares of the social networking company’s stock worth $593,000 after acquiring an additional 172 shares during the last quarter. Finally, Riverpoint Wealth Management Holdings LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $25,000. 60.92% of the stock is currently owned by institutional investors.

Meta Platforms Company Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.

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Earnings History and Estimates for Meta Platforms (NASDAQ:META)

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