Roth Mkm Increases Meta Platforms (NASDAQ:META) Price Target to $510.00

Meta Platforms (NASDAQ:META) had its price objective raised by equities researchers at Roth Mkm from $500.00 to $510.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the social networking company’s stock. Roth Mkm’s target price would suggest a potential upside of 15.05% from the stock’s current price.

Several other equities research analysts have also issued reports on META. Stifel Nicolaus raised their target price on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Meta Platforms from $450.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Barclays increased their target price on shares of Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada upped their price objective on Meta Platforms from $400.00 to $565.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $509.18.

Meta Platforms Trading Up 0.4 %

Shares of META stock opened at $443.29 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.26 and a beta of 1.20. Meta Platforms has a 52-week low of $229.85 and a 52-week high of $531.49. The company has a 50-day simple moving average of $494.48 and a two-hundred day simple moving average of $404.27.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. Research analysts anticipate that Meta Platforms will post 20.18 EPS for the current fiscal year.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $501.18, for a total value of $245,578.20. Following the completion of the transaction, the chief operating officer now directly owns 7,089 shares in the company, valued at approximately $3,552,865.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders sold a total of 1,349,148 shares of company stock worth $649,552,559 in the last quarter. 13.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Meta Platforms

Large investors have recently bought and sold shares of the business. Stone House Investment Management LLC increased its position 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 buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Quest Partners LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $32,000. PayPay Securities Corp increased its stake in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares in the last quarter. Finally, Clear Investment Research LLC lifted its stake in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Company Profile

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.