In yesterday’s Wall Street session, Meta Platforms Inc. (NASDAQ:META) shares traded at $307.56, up 3.25% from the previous session.
58 analysts cover Meta Platforms Inc. (NASDAQ:META), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $435.00 and a low of $270.00, we find $380.00. Given the previous closing price of $297.89, this indicates a potential upside of 27.56 percent. META stock price is now 2.38% away from the 50-day moving average and 41.19% away from the 200-day moving average. The market capitalization of the company currently stands at $793.47B.
The stock has received a hold rating from 6 analysts and a buy rating from 46. Brokers who have rated the stock have averaged $375.94 as their price target over the next twelve months.
With the price target of $350, Wedbush recently initiated with Outperform rating for Meta Platforms Inc. (NASDAQ: META).
In other news, Newstead Jennifer, Chief Legal Officer sold 670 shares of the company’s stock on Sep 05. The stock was sold for $199,292 at an average price of $297.45. Upon completion of the transaction, the Chief Legal Officer now directly owns 38,350 shares in the company, valued at $11.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 29, Chief Legal Officer Newstead Jennifer sold 670 shares of the business’s stock. A total of $193,262 was realized by selling the stock at an average price of $288.45. This leaves the insider owning 39,020 shares of the company worth $12.0 million. Insiders disposed of 892,133 shares of company stock worth roughly $274.38 million over the past 1 year. A total of 0.23% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in META stock. A new stake in Meta Platforms Inc. shares was purchased by SANDS CAPITAL MANAGEMENT, LLC during the first quarter worth $601,798,000. ONTARIO TEACHERS PENSION PLAN BOARD invested $338,567,000 in shares of META during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Meta Platforms Inc. valued at approximately $152,711,000. MIZUHO MARKETS CAYMAN LP acquired a new stake in META for approximately $136,200,000. ANATOLE INVESTMENT MANAGEMENT LTD purchased a new stake in META valued at around $134,201,000 in the second quarter. In total, there are 4,072 active investors with 75.20% ownership of the company’s stock.
On Monday morning Meta Platforms Inc. (NASDAQ: META) stock kicked off with the opening price of $301.41. During the past 12 months, Meta Platforms Inc. has had a low of $88.09 and a high of $326.20. As of last week, the company has a debt-to-equity ratio of 0.15, a current ratio of 2.30, and a quick ratio of 2.30. According to the stock market information, the enterprise value for the company is $749.29B, which is based on a 34.76 price-to-earnings ratio, a 1.13 price-to-earnings-growth ratio, and a beta of 1.23. The fifty day moving average price for META is $300.41 and a two-hundred day moving average price translates $217.84 for the stock.
The latest earnings results from Meta Platforms Inc. (NASDAQ: META) was released for Jun, 2023. According to the Internet Content & Information Company, earnings per share came in at $2.98, beating analysts’ expectations of $2.91 by 0.07. This compares to $2.46 EPS in the same period last year. The net profit margin was 18.70% and return on equity was 17.70% for META. The company reported revenue of $32.0 billion for the quarter, compared to $28.82 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.02 percent. For the current quarter, analysts expect META to generate $33.49B in revenue.
Meta Platforms Inc.(META) Company Profile
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. The Reality Labs segment provides augmented and virtual reality related products comprising consumer hardware, software, and content that help people feel connected, anytime, and anywhere. The company was formerly known as Facebook, Inc. and changed its name to Meta Platforms, Inc. in October 2021. Meta Platforms, Inc. was incorporated in 2004 and is headquartered in Menlo Park, California.
