Meta Platforms, Inc. (NASDAQ:META) Receives $305.43 Consensus PT from Brokerages

Shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) have received a consensus recommendation of “Buy” from the fifty ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twenty-two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $303.50.

A number of research firms have weighed in on META. Deutsche Bank Aktiengesellschaft began coverage on shares of Meta Platforms in a research report on Friday, March 11th. They set a “buy” rating and a $265.00 target price for the company. Jefferies Financial Group dropped their price objective on shares of Meta Platforms from $330.00 to $310.00 in a report on Tuesday, May 24th. MKM Partners dropped their price objective on shares of Meta Platforms from $315.00 to $295.00 in a report on Thursday, April 28th. Rosenblatt Securities started coverage on shares of Meta Platforms in a report on Tuesday, April 19th. They set a “neutral” rating and a $228.00 price objective on the stock. Finally, Raymond James dropped their price objective on shares of Meta Platforms from $340.00 to $290.00 in a report on Thursday, April 28th.

In related news, CFO David M. Wehner sold 1,222 shares of Meta Platforms stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $198.62, for a total transaction of $242,713.64. Following the sale, the chief financial officer now directly owns 12,247 shares in the company, valued at approximately $2,432,499.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $233.92, for a total transaction of $111,345.92. Following the sale, the insider now owns 14,402 shares in the company, valued at $3,368,915.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,466 shares of company stock worth $9,343,413. Insiders own 13.59% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Barnett & Company Inc. lifted its position in shares of Meta Platforms by 105.0% in the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after purchasing an additional 42 shares during the period. Rise Advisors LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at $28,000. Disciplined Investments LLC lifted its position in shares of Meta Platforms by 583.3% during the 1st quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Dravo Bay LLC acquired a new position in shares of Meta Platforms during the 1st quarter valued at $31,000. Finally, Evolution Advisers Inc. acquired a new position in shares of Meta Platforms during the 4th quarter valued at $48,000. Institutional investors and hedge funds own 65.49% of the company’s stock.

META stock opened at $163.74 on Wednesday. Meta Platforms has a 1 year low of $159.61 and a 1 year high of $384.33. The company has a fifty day simple moving average of $194.19 and a 200 day simple moving average of $243.15. The firm has a market cap of $443.13 billion, a PE ratio of 12.39, a PEG ratio of 1.08 and a beta of 1.37.

Meta Platforms (NASDAQ:METAGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.18. The business had revenue of $27.91 billion during the quarter, compared to analyst estimates of $28.21 billion. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same quarter in the previous year, the business earned $3.30 EPS. Sell-side analysts anticipate that Meta Platforms will post 11.56 earnings per share for the current fiscal year.

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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