Meta Platforms (NASDAQ:META) Raised to Strong-Buy at Hsbc Global Res

Meta Platforms (NASDAQ:META) was upgraded by equities research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on META. Bank of America lifted their price target on Meta Platforms from $775.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday. Citizens Jmp upped their price target on Meta Platforms from $750.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday. Susquehanna lowered their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. JMP Securities boosted their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the company a “market outperform” rating in a research note on Thursday. Finally, DA Davidson increased their target price on shares of Meta Platforms from $650.00 to $825.00 and gave the stock a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $820.32.

Meta Platforms Price Performance

META opened at $750.01 on Thursday. The firm has a 50-day moving average price of $701.68 and a 200-day moving average price of $645.68. Meta Platforms has a twelve month low of $450.80 and a twelve month high of $784.75. The company has a quick ratio of 2.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.84 and a beta of 1.27.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same period in the previous year, the business earned $5.16 EPS. Meta Platforms’s revenue was up 21.6% compared to the same quarter last year. Equities analysts expect that Meta Platforms will post 26.7 EPS for the current year.

Insider Buying and Selling

In other news, COO Javier Olivan sold 517 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $715.00, for a total value of $369,655.00. Following the transaction, the chief operating officer owned 5,785 shares in the company, valued at approximately $4,136,275. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $719.86, for a total transaction of $373,607.34. Following the completion of the transaction, the insider directly owned 25,550 shares in the company, valued at approximately $18,392,423. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,980 shares of company stock worth $105,708,832. Company insiders own 13.61% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently modified their holdings of the company. Oarsman Capital Inc. grew its stake in shares of Meta Platforms by 8.8% in the second quarter. Oarsman Capital Inc. now owns 5,885 shares of the social networking company’s stock worth $4,344,000 after purchasing an additional 478 shares during the last quarter. Bank of Jackson Hole Trust lifted its holdings in Meta Platforms by 15.6% in the 2nd quarter. Bank of Jackson Hole Trust now owns 2,749 shares of the social networking company’s stock worth $2,029,000 after buying an additional 371 shares during the period. Motco lifted its holdings in Meta Platforms by 12.6% in the 2nd quarter. Motco now owns 23,991 shares of the social networking company’s stock worth $18,556,000 after buying an additional 2,694 shares during the period. Biltmore Family Office LLC grew its position in shares of Meta Platforms by 2.2% in the 2nd quarter. Biltmore Family Office LLC now owns 3,321 shares of the social networking company’s stock worth $2,451,000 after buying an additional 71 shares during the last quarter. Finally, Auto Owners Insurance Co increased its stake in shares of Meta Platforms by 420.0% during the second quarter. Auto Owners Insurance Co now owns 170,300 shares of the social networking company’s stock valued at $125,697,000 after buying an additional 137,550 shares during the period. 79.91% of the stock is owned by institutional investors.

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.