Bank of America Forecasts Strong Price Appreciation for Meta Platforms (NASDAQ:META) Stock

Meta Platforms (NASDAQ:METAGet Free Report) had its price objective increased by Bank of America from $660.00 to $710.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the social networking company’s stock. Bank of America‘s price objective indicates a potential upside of 9.65% from the stock’s current price.

META has been the topic of several other reports. Monness Crespi & Hardt raised their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley boosted their price target on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Raymond James increased their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the company a “strong-buy” rating in a research report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Sanford C. Bernstein raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $654.20.

Check Out Our Latest Research Report on META

Meta Platforms Stock Performance

NASDAQ META opened at $647.49 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms has a 1-year low of $385.66 and a 1-year high of $652.00. The firm has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a P/E/G ratio of 1.18 and a beta of 1.19. The business’s 50-day simple moving average is $601.93 and its 200-day simple moving average is $560.12.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities analysts predict that Meta Platforms will post 22.96 EPS for the current year.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the sale, the insider now directly owns 31,482 shares in the company, valued at approximately $18,262,708.20. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $626.80, for a total transaction of $22,515,282.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 568,016 shares of company stock worth $346,031,180. 13.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Lindenwold Advisors INC boosted its position in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares in the last quarter. Insight Wealth Strategies LLC grew its position in Meta Platforms by 1.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after buying an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of Meta Platforms by 0.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock valued at $1,569,000 after acquiring an additional 17 shares during the last quarter. Central Valley Advisors LLC boosted its stake in shares of Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares in the last quarter. Finally, Cherrydale Wealth Management LLC grew its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Company Profile

(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.

Featured Stories

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.