Meta Platforms (NASDAQ:META) Given New $575.00 Price Target at Tigress Financial

Meta Platforms (NASDAQ:METAFree Report) had its price target lifted by Tigress Financial from $435.00 to $575.00 in a research note published on Friday, Benzinga reports. The firm currently has a strong-buy rating on the social networking company’s stock.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $420.00 to $535.00 and gave the stock an overweight rating in a research note on Friday, February 2nd. Bank of America upped their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Meta Platforms from $450.00 to $525.00 and gave the stock a buy rating in a research note on Friday, February 2nd. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $414.00 to $500.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Finally, Piper Sandler increased their price objective 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $494.53.

Check Out Our Latest Research Report on META

Meta Platforms Stock Down 0.4 %

Shares of Meta Platforms stock opened at $468.11 on Friday. The company has a market cap of $1.20 trillion, a P/E ratio of 31.42, a PEG ratio of 1.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.57 and a current ratio of 2.67. Meta Platforms has a one year low of $167.66 and a one year high of $485.96. The firm has a fifty day moving average of $371.59 and a two-hundred day moving average of $331.58.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. The company had revenue of $40.11 billion during 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%. Meta Platforms’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 EPS. On average, analysts forecast that Meta Platforms will post 19.62 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, February 21st.

Insider Activity

In other news, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $330.05, for a total transaction of $9,244,370.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 8,031 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total transaction of $2,700,905.61. Following the sale, the chief technology officer now owns 15,013 shares in the company, valued at approximately $5,049,022.03. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $330.05, for a total value of $9,244,370.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 890,289 shares of company stock valued at $317,907,575. 13.75% of the stock is currently owned by company insiders.

Institutional Trading of Meta Platforms

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in shares of Meta Platforms by 137.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,532,030 shares of the social networking company’s stock valued at $1,300,602,000 after purchasing an additional 2,623,447 shares during the period. Houlihan Financial Resource Group Ltd. acquired a new position in shares of Meta Platforms in the 2nd quarter valued at about $474,000. Atomi Financial Group Inc. increased its holdings in shares of Meta Platforms by 63.8% in the 2nd quarter. Atomi Financial Group Inc. now owns 8,345 shares of the social networking company’s stock valued at $2,395,000 after purchasing an additional 3,251 shares during the period. Solstein Capital LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at about $100,000. Finally, Keel Point LLC increased its holdings in shares of Meta Platforms by 6.3% in the 3rd quarter. Keel Point LLC now owns 6,690 shares of the social networking company’s stock valued at $2,008,000 after purchasing an additional 399 shares during the period. 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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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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