Meta Platforms (NASDAQ:FB – Get Rating) had its target price reduced by investment analysts at Jefferies Financial Group from $330.00 to $310.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Jefferies Financial Group’s price target would suggest a potential upside of 71.79% from the company’s current price.
Other research analysts have also issued reports about the stock. Credit Suisse Group increased their price objective on shares of Meta Platforms to $273.00 in a report on Thursday, April 28th. The Goldman Sachs Group cut their price objective on shares of Meta Platforms from $445.00 to $355.00 and set a “buy” rating on the stock in a report on Thursday, February 3rd. Citigroup upgraded shares of Meta Platforms from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $258.00 to $300.00 in a report on Wednesday, April 20th. Truist Financial cut their price target on shares of Meta Platforms from $350.00 to $320.00 in a report on Thursday, April 28th. Finally, Sanford C. Bernstein cut their price target on shares of Meta Platforms from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Thursday, February 3rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Buy” and an average price target of $314.41.
NASDAQ:FB opened at $180.45 on Tuesday. The firm has a market cap of $488.36 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37. The company’s 50-day moving average is $208.26 and its two-hundred day moving average is $262.44. Meta Platforms has a 12-month low of $169.00 and a 12-month high of $384.33.
Meta Platforms (NASDAQ:FB – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.06. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same quarter last year, the company posted $3.30 EPS. As a group, equities analysts predict that Meta Platforms will post 11.63 earnings per share for the current year.
In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $199.60, for a total value of $62,075.60. Following the transaction, the insider now directly owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Clegg sold 6,425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $202.16, for a total transaction of $1,298,878.00. Following the completion of the transaction, the insider now directly owns 9,596 shares in the company, valued at $1,939,927.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,758 shares of company stock valued at $9,217,533. 13.59% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Landmark Wealth Management LLC bought a new position in shares of Meta Platforms during the first quarter worth $26,000. Disciplined Investments LLC raised its holdings in shares of Meta Platforms by 583.3% during the first quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock worth $27,000 after acquiring an additional 105 shares during the period. Barnett & Company Inc. raised its holdings in shares of Meta Platforms by 105.0% during the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after acquiring an additional 42 shares during the period. Rise Advisors LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $28,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth $31,000. 65.49% of the stock is currently owned by institutional investors.
Meta Platforms Company Profile (Get Rating)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment’s products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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