Meta Platforms, Inc. (NASDAQ:META) Receives Consensus Rating of “Moderate Buy” from Analysts
Meta Platforms, Inc. (NASDAQ:META – Get Free Report) has earned a consensus rating of “Moderate Buy” from the forty-nine analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $349.53.
META has been the subject of several recent analyst reports. KeyCorp raised their target price on Meta Platforms from $356.00 to $380.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Wells Fargo & Company upped their target price on Meta Platforms from $372.00 to $380.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Citigroup reissued a “buy” rating and set a $385.00 price target on shares of Meta Platforms in a research report on Friday, September 22nd. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $372.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Barclays decreased their price objective on shares of Meta Platforms from $410.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, October 26th.
Get Our Latest Stock Report on META
Insider Activity at Meta Platforms
In other news, CTO Andrew Bosworth sold 8,031 shares of Meta Platforms stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total transaction of $2,700,905.61. Following the transaction, the chief technology officer now owns 15,013 shares in the company, valued at $5,049,022.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CTO Andrew Bosworth sold 8,031 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total value of $2,700,905.61. Following the transaction, the chief technology officer now owns 15,013 shares in the company, valued at approximately $5,049,022.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 670 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $302.48, for a total transaction of $202,661.60. Following the completion of the sale, the insider now owns 37,010 shares of the company’s stock, valued at approximately $11,194,784.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 490,285 shares of company stock worth $160,858,373. 13.75% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Meta Platforms
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position in Meta Platforms by 137.5% during the second quarter. Renaissance Technologies LLC now owns 4,532,030 shares of the social networking company’s stock worth $1,300,602,000 after purchasing an additional 2,623,447 shares during the period. Houlihan Financial Resource Group Ltd. bought a new stake in shares of Meta Platforms during the 2nd quarter worth $474,000. Atomi Financial Group Inc. grew its stake in Meta Platforms by 63.8% in the 2nd quarter. Atomi Financial Group Inc. now owns 8,345 shares of the social networking company’s stock valued at $2,395,000 after buying an additional 3,251 shares during the last quarter. Stratos Wealth Advisors LLC raised its holdings in Meta Platforms by 7.7% in the 2nd quarter. Stratos Wealth Advisors LLC now owns 31,498 shares of the social networking company’s stock worth $9,039,000 after acquiring an additional 2,251 shares during the period. Finally, Solstein Capital LLC acquired a new position in Meta Platforms during the 2nd quarter worth $100,000. Institutional investors own 62.87% of the company’s stock.
Meta Platforms Price Performance
META stock opened at $334.92 on Friday. The stock has a 50-day simple moving average of $322.95 and a 200-day simple moving average of $304.67. The firm has a market cap of $860.70 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 1.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.57 and a current ratio of 2.57. Meta Platforms has a 1 year low of $112.46 and a 1 year high of $342.92.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The social networking company reported $4.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.77. The company had revenue of $34.15 billion for the quarter, compared to analyst estimates of $33.58 billion. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 earnings per share. On average, equities analysts predict that Meta Platforms will post 14.32 earnings per share for the current fiscal year.
Meta Platforms Company Profile (Get Free Report
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.
Further Reading
NASDAQ: META” width=”600″ height=”385″ loading=”lazy”>
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Meta Platforms, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Meta Platforms wasn’t on the list.
While Meta Platforms currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to pot stock investing and which pot companies show the most promise.