Evercore ISI Increases Meta Platforms (NASDAQ:META) Price Target to $305.00

Meta Platforms (NASDAQ:META – Get Rating) had its price target boosted by Evercore ISI from $275.00 to $305.00 in a research note published on Tuesday, The Fly reports.

A number of other equities analysts have also commented on the company. Mizuho increased their price target on Meta Platforms from $170.00 to $210.00 and gave the company a buy rating in a research note on Thursday, February 2nd. Arete Research reaffirmed a sell rating on shares of Meta Platforms in a research report on Monday, March 6th. Guggenheim raised their price objective on Meta Platforms from $130.00 to $210.00 and gave the stock a buy rating in a research report on Thursday, February 2nd. Raymond James lifted their price target on Meta Platforms from $171.00 to $220.00 and gave the stock an outperform rating in a research report on Thursday, February 2nd. Finally, Oppenheimer lifted their price target on Meta Platforms from $220.00 to $235.00 and gave the stock an outperform rating in a research report on Thursday, March 9th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has a consensus rating of Moderate Buy and a consensus target price of $205.38.

Meta Platforms Stock Up 7.3 %

Meta Platforms stock opened at $194.02 on Tuesday. The stock has a market cap of $503.02 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.20 and a current ratio of 2.20. Meta Platforms has a one year low of $88.09 and a one year high of $236.86. The stock has a fifty day moving average of $162.14 and a 200 day moving average of $139.22.

Meta Platforms (NASDAQ:META – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The social networking company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.88. The business had revenue of $32.17 billion during the quarter, compared to analysts’ expectations of $31.69 billion. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.67 earnings per share. As a group, sell-side analysts predict that Meta Platforms will post 9.87 EPS for the current year.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $116.44, for a total transaction of $39,822.48. Following the completion of the sale, the insider now directly owns 25,819 shares in the company, valued at approximately $3,006,364.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Marne L. Levine sold 23,317 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $191.00, for a total value of $4,453,547.00. Following the transaction, the insider now directly owns 4,136 shares of the company’s stock, valued at approximately $789,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $116.44, for a total value of $39,822.48. Following the completion of the sale, the insider now directly owns 25,819 shares in the company, valued at approximately $3,006,364.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,949 shares of company stock worth $12,211,422. 14.03% of the stock is currently owned by company insiders.

Institutional Trading of Meta Platforms

Institutional investors have recently modified their holdings of the company. Claro Advisors LLC bought a new position in Meta Platforms in the 4th quarter valued at $1,416,000. Mather Group LLC. bought a new stake in Meta Platforms in the fourth quarter valued at about $1,138,000. Capital Asset Advisory Services LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $1,379,000. Great Lakes Retirement Inc. acquired a new position in Meta Platforms in the fourth quarter valued at about $264,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Meta Platforms in the fourth quarter valued at about $165,285,000. Institutional investors and hedge funds own 60.92% of the company’s stock.

Meta Platforms Company Profile

(Get Rating)

Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.