Piper Sandler Trims Meta Platforms (NASDAQ:FB) Target Price to $220.00

Meta Platforms (NASDAQ:FBGet Rating) had its target price dropped by investment analysts at Piper Sandler from $230.00 to $220.00 in a research note issued to investors on Thursday, The Fly reports. Piper Sandler’s target price suggests a potential upside of 16.62% from the company’s current price.

Several other equities analysts also recently weighed in on FB. Atlantic Securities reduced their target price on shares of Meta Platforms from $420.00 to $360.00 and set an “overweight” rating for the company in a research note on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Meta Platforms in a report on Friday, March 11th. They issued a “buy” rating and a $265.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of Meta Platforms from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $385.00 to $284.00 in a research report on Thursday, February 3rd. Mizuho reduced their target price on shares of Meta Platforms from $425.00 to $325.00 and set a “buy” rating on the stock in a research report on Monday, April 25th. Finally, Truist Financial dropped their price target on shares of Meta Platforms from $350.00 to $320.00 in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $311.37.

FB opened at $188.64 on Thursday. The stock has a market cap of $510.52 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37. Meta Platforms has a twelve month low of $169.00 and a twelve month high of $384.33. The company has a fifty day moving average of $205.62 and a 200-day moving average of $256.35.

Meta Platforms (NASDAQ:FBGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.18. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The firm had revenue of $27.91 billion for the quarter, compared to analyst estimates of $28.21 billion. During the same period last year, the firm earned $3.30 earnings per share. On average, equities research analysts anticipate that Meta Platforms will post 11.6 EPS for the current fiscal year.

In other Meta Platforms news, insider Jennifer Newstead sold 476 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $233.92, for a total value of $111,345.92. Following the completion of the transaction, the insider now owns 14,402 shares of the company’s stock, valued at approximately $3,368,915.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 11,718 shares of the firm’s stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $198.62, for a total transaction of $2,327,429.16. Following the completion of the transaction, the chief technology officer now directly owns 11,913 shares of the company’s stock, valued at approximately $2,366,160.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,100 shares of company stock valued at $9,279,275. 13.59% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the stock. Autus Asset Management LLC grew its position in shares of Meta Platforms by 5.4% in the 4th quarter. Autus Asset Management LLC now owns 643 shares of the social networking company’s stock worth $217,000 after buying an additional 33 shares during the last quarter. Well Done LLC grew its position in shares of Meta Platforms by 1.9% in the 4th quarter. Well Done LLC now owns 1,829 shares of the social networking company’s stock worth $615,000 after buying an additional 34 shares during the last quarter. JGP Wealth Management LLC grew its position in shares of Meta Platforms by 1.9% in the 4th quarter. JGP Wealth Management LLC now owns 1,903 shares of the social networking company’s stock worth $617,000 after buying an additional 36 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Meta Platforms by 0.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,993 shares of the social networking company’s stock worth $1,694,000 after buying an additional 40 shares during the last quarter. Finally, TruWealth Advisors LLC grew its position in shares of Meta Platforms by 2.8% in the 4th quarter. TruWealth Advisors LLC now owns 1,465 shares of the social networking company’s stock worth $493,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

About Meta Platforms (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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