Rosenblatt Securities Reaffirms “Buy” Rating for Meta Platforms (NASDAQ:META)

Meta Platforms (NASDAQ:META)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $811.00 price objective on the social networking company’s stock. Rosenblatt Securities’ price objective points to a potential upside of 42.99% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. JMP Securities upped their price objective on Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a report on Thursday, September 26th. Citigroup upped their price objective on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. KeyCorp upped their price objective on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Susquehanna upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Finally, Loop Capital upped their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $567.16 on Thursday. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 26.72, a P/E/G ratio of 1.44 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $555.99 and its two-hundred day simple moving average is $513.03. Meta Platforms has a twelve month low of $308.33 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. As a group, equities analysts anticipate that Meta Platforms will post 21.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of Meta Platforms stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the sale, the chief executive officer now owns 518,004 shares of the company’s stock, valued at approximately $310,890,460.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of Meta Platforms stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the sale, the chief executive officer now owns 518,004 shares of the company’s stock, valued at approximately $310,890,460.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total value of $524,990.50. Following the completion of the sale, the insider now directly owns 31,482 shares of the company’s stock, valued at approximately $18,262,708.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,993 shares of company stock valued at $133,271,982. Corporate insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors boosted its stake in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC lifted its position in Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms 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.