Meta Platforms (NASDAQ:META) PT Raised to $230.00

Meta Platforms (NASDAQ:META – Get Rating) had its price objective raised by Bank of America from $220.00 to $230.00 in a report issued on Tuesday morning, The Fly reports.

Several other research analysts have also issued reports on the company. Truist Financial increased their price target on Meta Platforms from $215.00 to $230.00 in a report on Tuesday. Morgan Stanley raised their target price on Meta Platforms from $130.00 to $190.00 and gave the company an equal weight rating in a report on Thursday, February 2nd. Mizuho raised their target price on Meta Platforms from $170.00 to $210.00 and gave the company a buy rating in a report on Thursday, February 2nd. Wolfe Research raised their target price on Meta Platforms from $150.00 to $220.00 and gave the company an outperform rating in a report on Thursday, February 2nd. Finally, Citigroup raised their target price on Meta Platforms from $168.00 to $228.00 and gave the company a buy rating in a report on Thursday, February 2nd. Four 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $205.38.

Meta Platforms Stock Up 7.3 %

Shares of NASDAQ:META opened at $194.02 on Tuesday. The business’s 50 day simple moving average is $162.14 and its two-hundred day simple moving average is $139.22. The firm has a market cap of $503.02 billion, a P/E ratio of 22.61, a PEG 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 52-week low of $88.09 and a 52-week high of $236.86.

Meta Platforms (NASDAQ:META – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The social networking company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.88. The business 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 company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 earnings per share. As a group, research analysts forecast that Meta Platforms will post 9.87 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In related news, insider Marne L. Levine sold 23,317 shares of Meta Platforms stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $191.00, for a total transaction of $4,453,547.00. Following the completion of the sale, the insider now owns 4,136 shares of the company’s stock, valued at $789,976. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $116.70, for a total transaction of $39,911.40. Following the transaction, the insider now owns 26,161 shares in the company, valued at approximately $3,052,988.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Marne L. Levine sold 23,317 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $191.00, for a total value of $4,453,547.00. Following the transaction, the insider now owns 4,136 shares in the company, valued at approximately $789,976. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,949 shares of company stock valued at $12,211,422. Company insiders own 14.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Riverpoint Wealth Management Holdings LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $25,000. Ruedi Wealth Management Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $25,000. MBM Wealth Consultants LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $26,000. NewSquare Capital LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $26,000. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 60.92% of the company’s stock.

About Meta Platforms

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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.