Raymond James Increases Meta Platforms (NASDAQ:META) Price Target to $550.00

Meta Platforms (NASDAQ:METAGet Free Report) had its price target increased by equities researchers at Raymond James from $525.00 to $550.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the social networking company’s stock. Raymond James’ price target suggests a potential upside of 11.39% from the company’s current price.

A number of other brokerages have also recently issued reports on META. Stifel Nicolaus upped their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. KeyCorp dropped their target price on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Tigress Financial upped their target price on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. Piper Sandler reissued an “overweight” rating and issued a $545.00 price target (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Finally, Barclays lowered their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $510.41.

Check Out Our Latest Report on Meta Platforms

Meta Platforms Trading Down 0.3 %

Shares of NASDAQ:META opened at $493.76 on Wednesday. The company’s 50-day moving average price is $480.37 and its two-hundred day moving average price is $434.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms has a one year low of $258.88 and a one year high of $531.49. The stock has a market capitalization of $1.25 trillion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities analysts forecast that Meta Platforms will post 20.19 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $485.10, for a total transaction of $15,277,254.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $485.10, for a total transaction of $15,277,254.30. The disclosure for this sale can be found here. Insiders sold a total of 604,890 shares of company stock valued at $297,429,900 in the last quarter. Insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Several large investors have recently modified their holdings of the business. Norges Bank bought a new position in Meta Platforms during the fourth quarter worth $11,285,855,000. FMR LLC raised its stake in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after buying an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC raised its stake in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after buying an additional 4,908,251 shares during the last quarter. Capital Research Global Investors raised its stake in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Finally, Concentrum Wealth Management raised its stake in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Institutional investors own 79.91% 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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