Meta Platforms (NASDAQ:META) Price Target Increased to $305.00 by Analysts at Evercore ISI

Meta Platforms (NASDAQ:META – Get Rating) had its price target raised by equities research analysts at Evercore ISI from $275.00 to $305.00 in a note issued to investors on Tuesday, The Fly reports. Evercore ISI’s target price would suggest a potential upside of 57.20% from the stock’s current price.

META has been the subject of a number of other reports. Roth Capital lifted their price target on Meta Platforms from $125.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Stifel Nicolaus lifted their target price on Meta Platforms from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, March 8th. Loop Capital lifted their target price on Meta Platforms from $165.00 to $188.00 and gave the company a “hold” rating in a research note on Wednesday, February 8th. Finally, Royal Bank of Canada lifted their price target on Meta Platforms from $160.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.38.

Meta Platforms Trading Up 7.3 %

NASDAQ:META opened at $194.02 on Tuesday. The business’s 50-day moving average is $162.14 and its two-hundred day moving average is $139.22. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.20 and a quick ratio of 2.20. Meta Platforms has a 12 month low of $88.09 and a 12 month high of $236.86. The firm has a market capitalization 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.

Meta Platforms (NASDAQ:META – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The social networking company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.12 by $0.88. The company had revenue of $32.17 billion for the quarter, compared to analyst estimates of $31.69 billion. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company posted $3.67 earnings per share. Research analysts predict that Meta Platforms will post 9.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Andrew Bosworth sold 10,888 shares of Meta Platforms stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $179.48, for a total value of $1,954,178.24. Following the sale, the chief technology officer now owns 12,743 shares of the company’s stock, valued at $2,287,113.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 393 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $189.00, for a total transaction of $74,277.00. Following the completion of the sale, the insider now directly owns 31,332 shares in the company, valued at $5,921,748. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 10,888 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $179.48, for a total value of $1,954,178.24. Following the sale, the chief technology officer now owns 12,743 shares of the company’s stock, valued at $2,287,113.64. The disclosure for this sale can be found here. Insiders have sold a total of 67,949 shares of company stock worth $12,211,422 over the last three months. Corporate insiders own 14.03% of the company’s stock.

Institutional Trading of Meta Platforms

A number of institutional investors and hedge funds have recently bought and sold shares of META. Riverpoint Wealth Management Holdings LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $25,000. Ruedi Wealth Management Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $25,000. NewSquare Capital LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $26,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $26,000. Finally, MBM Wealth Consultants LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $26,000. 60.92% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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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.