Meta Platforms (NASDAQ:META) PT Lowered to $215.00

Meta Platforms (NASDAQ:METAGet Rating) had its price target decreased by stock analysts at UBS Group from $310.00 to $215.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the social networking company’s stock. UBS Group’s target price suggests a potential upside of 31.31% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets lowered their price objective on shares of Meta Platforms from $290.00 to $225.00 in a research report on Friday, April 22nd. Moffett Nathanson lowered their price objective on shares of Meta Platforms to $280.00 in a report on Thursday, May 26th. Susquehanna Bancshares lowered their target price on shares of Meta Platforms from $375.00 to $290.00 in a report on Thursday, April 28th. The Goldman Sachs Group lowered their target price on shares of Meta Platforms from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, June 9th. Finally, Susquehanna lowered their target price on shares of Meta Platforms from $375.00 to $290.00 in a report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Buy” and a consensus target price of $305.87.

NASDAQ META opened at $163.74 on Thursday. The company has a 50-day moving average price of $194.19 and a two-hundred day moving average price of $243.15. The stock has a market cap of $443.13 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.08 and a beta of 1.37. Meta Platforms has a 52 week low of $159.61 and a 52 week high of $384.33.

Meta Platforms (NASDAQ:METAGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 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 the consensus estimate 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 prior year, the firm earned $3.30 EPS. As a group, equities research analysts anticipate that Meta Platforms will post 11.56 earnings per share for the current year.

In related news, CTO Andrew Bosworth sold 10,126 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $203.35, for a total value of $2,059,122.10. Following the completion of the transaction, the chief technology officer now directly owns 4,544 shares of the company’s stock, valued at $924,022.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 768 shares of Meta Platforms stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $211.37, for a total value of $162,332.16. The disclosure for this sale can be found here. Insiders sold a total of 46,466 shares of company stock worth $9,343,413 over the last ninety days. Insiders own 13.59% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barnett & Company Inc. increased its position in 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 buying an additional 42 shares during the period. Rise Advisors LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $28,000. Disciplined Investments LLC boosted its stake in shares of Meta Platforms by 583.3% in the first quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Dravo Bay LLC purchased a new stake in shares of Meta Platforms in the first quarter valued at approximately $31,000. Finally, Evolution Advisers Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 65.49% of the company’s stock.

About Meta Platforms (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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