Meta Platforms, Inc. (NASDAQ:META) Receives $491.03 Average Target Price from Analysts

Shares of Meta Platforms, Inc. (NASDAQ:METAGet Free Report) have earned an average recommendation of “Moderate Buy” from the forty-six brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, forty have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $491.03.

Several brokerages have recently issued reports on META. Truist Financial raised their price target on Meta Platforms from $405.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. BMO Capital Markets raised their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Robert W. Baird raised their price target on shares of Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $420.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Piper Sandler lifted their target price on shares of Meta Platforms from $415.00 to $525.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd.

Read Our Latest Report on Meta Platforms

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 8,031 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 $2,700,905.61. Following the completion of the sale, the chief technology officer now directly owns 15,013 shares in the company, valued at $5,049,022.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 8,031 shares of the firm’s 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 $2,700,905.61. Following the transaction, the chief technology officer now owns 15,013 shares of the company’s stock, valued at $5,049,022.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 552 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the completion of the transaction, the insider now directly owns 34,168 shares in the company, valued at approximately $15,853,952. The disclosure for this sale can be found here. Insiders sold 918,298 shares of company stock worth $327,032,907 over the last three months. 14.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Meta Platforms

Several hedge funds have recently modified their holdings of META. Stone House Investment Management LLC lifted its stake in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the period. MBM Wealth Consultants LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at approximately $26,000. Stephens Investment Management Group LLC purchased a new position in shares of Meta Platforms during the 2nd quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC grew its stake in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Finally, PayPay Securities Corp boosted its stake in Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 62.87% of the company’s stock.

Meta Platforms Trading Up 3.3 %

Meta Platforms stock opened at $469.59 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.57. The company has a market capitalization of $1.21 trillion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.23 and a beta of 1.15. Meta Platforms has a one year low of $167.66 and a one year high of $485.96. The company’s fifty day moving average price is $365.87 and its two-hundred day moving average price is $329.38.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.00 earnings per share. On average, analysts forecast that Meta Platforms will post 19.22 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd will be paid 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 0.43%.

About Meta Platforms

(Get Free Report

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.

Read More

Analyst Recommendations for Meta Platforms (NASDAQ:META)

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.