Meta Platforms, Inc. (NASDAQ:META) Given Consensus Recommendation of “Moderate Buy” by Analysts

Meta Platforms, Inc. (NASDAQ:METAGet Rating) has been assigned an average recommendation of “Moderate Buy” from the fifty-three research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twenty have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $253.74.

A number of research firms recently weighed in on META. Cowen dropped their price target on Meta Platforms from $300.00 to $275.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 13th. Morgan Stanley dropped their price target on Meta Platforms from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Moffett Nathanson lowered their price objective on Meta Platforms to $280.00 in a research report on Thursday, May 26th. BMO Capital Markets reduced their target price on Meta Platforms from $290.00 to $225.00 in a report on Friday, April 22nd. Finally, Cowen reduced their price objective on Meta Platforms from $300.00 to $275.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 13th.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total value of $62,075.60. Following the completion of the sale, the insider now owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 311 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total transaction of $62,075.60. Following the transaction, the insider now owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 10,126 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $203.35, for a total value of $2,059,122.10. Following the transaction, the chief technology officer now directly owns 4,544 shares in the company, valued at approximately $924,022.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,894 shares of company stock valued at $8,904,644. Company insiders own 13.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Meta Platforms in the fourth quarter worth $9,595,113,000. Dodge & Cox grew its position in Meta Platforms by 78.7% during the fourth quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock worth $2,238,518,000 after buying an additional 2,931,894 shares in the last quarter. Capital International Investors grew its position in Meta Platforms by 5.9% during the fourth quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock worth $17,413,576,000 after buying an additional 2,888,336 shares in the last quarter. Polen Capital Management LLC boosted its holdings in shares of Meta Platforms by 26.1% in the 1st quarter. Polen Capital Management LLC now owns 13,165,612 shares of the social networking company’s stock worth $2,927,505,000 after purchasing an additional 2,722,842 shares in the last quarter. Finally, HS Management Partners LLC boosted its holdings in shares of Meta Platforms by 463.7% in the 4th quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock worth $182,104,000 after purchasing an additional 2,325,382 shares in the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Meta Platforms Stock Up 5.4 %

Shares of Meta Platforms stock opened at $168.80 on Thursday. Meta Platforms has a 12-month low of $154.25 and a 12-month high of $384.33. The business’s 50 day moving average is $166.32 and its 200-day moving average is $183.16. The stock has a market cap of $456.83 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.10 and a beta of 1.32.

Meta Platforms (NASDAQ:METAGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The social networking company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business had revenue of $28.82 billion during the quarter, compared to the consensus estimate of $28.95 billion. During the same quarter last year, the company posted $3.61 EPS. The firm’s revenue was down .9% on a year-over-year basis. On average, sell-side analysts expect that Meta Platforms will post 9.68 EPS for the current year.

Meta Platforms Company Profile

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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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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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