Roth Mkm Increases Meta Platforms (NASDAQ:META) Price Target to $635.00

Meta Platforms (NASDAQ:METAGet Free Report) had its price target hoisted by stock analysts at Roth Mkm from $620.00 to $635.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. Roth Mkm’s target price would suggest a potential upside of 12.71% from the stock’s previous close.

A number of other research analysts also recently commented on META. Raymond James lifted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday. Finally, TD Securities lifted their target price on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $631.59.

View Our Latest Stock Report on Meta Platforms

Meta Platforms Stock Down 4.8 %

Shares of NASDAQ:META traded down $28.40 during midday trading on Thursday, reaching $563.40. 18,103,590 shares of the company were exchanged, compared to its average volume of 15,119,335. Meta Platforms has a fifty-two week low of $296.86 and a fifty-two week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $554.49 and a two-hundred day simple moving average of $512.18. The firm has a market cap of $1.43 trillion, a PE ratio of 32.46, a P/E/G ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, sell-side analysts forecast that Meta Platforms will post 21.44 earnings per share for the current year.

Insider Activity

In other news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the transaction, the chief operating officer now directly owns 10,707 shares in the company, valued at approximately $6,147,531.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,818 shares of company stock valued at $132,569,993. 13.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares in the last quarter. Capital World Investors raised its holdings in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares during the last quarter. Capital Research Global Investors raised its holdings in Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC raised its holdings in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC raised its holdings in Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after buying an additional 342,742 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

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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