Meta Platforms (NASDAQ:META) PT Raised to $635.00 at JMP Securities

Meta Platforms (NASDAQ:META) had its price target upped by research analysts at JMP Securities from $550.00 to $635.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the social networking company’s stock. JMP Securities’ target price would indicate a potential upside of 11.92% from the company’s current price.

Several other research firms also recently weighed in on META. KeyCorp upped their price target on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. UBS Group increased their target price on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wolfe Research began coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $591.23.

Meta Platforms Stock Down 0.1 %

Shares of META opened at $567.36 on Thursday. The firm has a market cap of $1.44 trillion, a P/E ratio of 32.59, a PEG ratio of 1.39 and a beta of 1.21. Meta Platforms has a 12 month low of $279.40 and a 12 month high of $577.40. The stock’s 50 day moving average is $516.19 and its two-hundred day moving average is $499.60. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.23 EPS. Analysts predict that Meta Platforms will post 21.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christopher K. Cox sold 10,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $569.93, for a total value of $5,699,300.00. Following the sale, the insider now owns 328,662 shares in the company, valued at approximately $187,314,333.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $560.00, for a total value of $231,280.00. Following the completion of the transaction, the chief operating officer now owns 12,772 shares of the company’s stock, valued at approximately $7,152,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher K. Cox sold 10,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $569.93, for a total transaction of $5,699,300.00. Following the completion of the transaction, the insider now owns 328,662 shares of the company’s stock, valued at approximately $187,314,333.66. The disclosure for this sale can be found here. Insiders have sold 342,358 shares of company stock worth $179,431,101 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of META. Vanguard Group Inc. raised its position in 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 valued at $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Capital World Investors increased its stake in shares of Meta Platforms by 0.6% during the first 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 period. Capital International Investors raised its holdings in Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares in the last quarter. Capital Research Global Investors lifted its stake in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Meta Platforms by 24.7% during 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 acquiring an additional 2,748,620 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.