Q3 2024 EPS Estimates for Meta Platforms, Inc. (NASDAQ:META) Lifted by Analyst

Meta Platforms, Inc. (NASDAQ:METAFree Report) – Research analysts at William Blair lifted their Q3 2024 earnings per share (EPS) estimates for Meta Platforms in a research note issued on Friday, February 2nd. William Blair analyst R. Schackart now expects that the social networking company will post earnings of $4.60 per share for the quarter, up from their previous forecast of $4.30. The consensus estimate for Meta Platforms’ current full-year earnings is $17.73 per share.

Several other analysts also recently issued reports on the company. JMP Securities upped their price objective on Meta Platforms from $410.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Rosenblatt Securities upped their price target on Meta Platforms from $372.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Susquehanna upped their price target on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research note on Friday, February 2nd. Oppenheimer upped their price target on Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, BMO Capital Markets upped their price target on Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $491.03.

View Our Latest Research Report on META

Meta Platforms Stock Down 1.0 %

META opened at $454.72 on Monday. The business’s fifty day moving average is $363.12 and its two-hundred day moving average is $328.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.57 and a current ratio of 2.67. The company has a market cap of $1.17 trillion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.27 and a beta of 1.15. Meta Platforms has a one year low of $167.66 and a one year high of $485.96.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter in the previous year, the company posted $3.00 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd will be given a $0.50 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.44%. Meta Platforms’s payout ratio is 13.42%.

Insider Activity

In related news, CFO Susan J. Li sold 10,642 shares of Meta Platforms stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total value of $3,579,011.02. Following the transaction, the chief financial officer now directly owns 89,509 shares of the company’s stock, valued at $30,102,771.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Susan J. Li sold 10,642 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total value of $3,579,011.02. Following the sale, the chief financial officer now owns 89,509 shares of the company’s stock, valued at $30,102,771.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 65,600 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $400.50, for a total transaction of $26,272,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 883,348 shares of company stock worth $311,039,006. Corporate insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently made changes to their positions in META. Addison Advisors LLC lifted its stake in shares of Meta Platforms by 3.9% during the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after buying an additional 25 shares in the last quarter. WoodTrust Financial Corp lifted its stake in shares of Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after buying an additional 27 shares in the last quarter. Tennessee Valley Asset Management Partners lifted its stake in shares of Meta Platforms by 0.6% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after buying an additional 27 shares in the last quarter. Peterson Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 1.9% during the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after buying an additional 28 shares in the last quarter. Finally, Edge Wealth Management LLC lifted its stake in shares of Meta Platforms by 4.0% during the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.

Meta Platforms Company Profile

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Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, 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, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Earnings History and Estimates for Meta Platforms (NASDAQ:META)

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