In yesterday’s Wall Street session, Meta Platforms Inc (NASDAQ:META) shares traded at $519.25, down -1.53% from the previous session.
META stock price is now 8.76% away from the 50-day moving average and 45.21% away from the 200-day moving average. The market capitalization of the company currently stands at $1323.78B.
With the price target enhanced from $525 to $585, Oppenheimer maintained Outperform rating for Meta Platforms Inc (NASDAQ: META). On April 04, 2024, Jefferies reiterated its ‘Buy’ rating on the stock by increasing its target price from $550 to quote $585, while ‘Wolfe Research’ rates the stock as ‘Outperform’
In other news, Newstead Jennifer, Chief Legal Officer sold 585 shares of the company’s stock on Apr 02 ’24. The stock was sold for $283,725 at an average price of $485.00. Upon completion of the transaction, the Chief Legal Officer now directly owns 38,983 shares in the company, valued at $20.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 01 ’24, COB and CEO Zuckerberg Mark sold 31,465 shares of the business’s stock. A total of $15,464,600 was realized by selling the stock at an average price of $491.49. A total of 13.98% of the company’s stock is owned by insiders.
During the past 12 months, Meta Platforms Inc has had a low of $207.13 and a high of $530.70. As of last week, the company has a debt-to-equity ratio of 0.25, a current ratio of 2.67, and a quick ratio of 2.67. According to the stock market information, the enterprise value for the company is $1.30T, which is based on a 34.86 price-to-earnings ratio, a 1.34 price-to-earnings-growth ratio, and a beta of 1.17. The fifty day moving average price for META is $479.93 and a two-hundred day moving average price translates $358.77 for the stock.
The latest earnings results from Meta Platforms Inc (NASDAQ: META) was released for Dec, 2023. According to the Internet Content & Information Company, earnings per share came in at $4.91, beating analysts’ expectations of $4.57 by 0.34. This compares to $1.76 EPS in the same period last year. The net profit margin was 28.98% and return on equity was 28.04% for META. The company reported revenue of $40.11 billion for the quarter, compared to $32.16 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 24.71 percent. For the current quarter, analysts expect META to generate $33.23B 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. The company was incorporated in 2004 and is headquartered in Menlo Park, California
