Meta Platforms (NASDAQ:META) PT Raised to $811.00

Meta Platforms (NASDAQ:META) had its price target increased by equities research analysts at Rosenblatt Securities from $643.00 to $811.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the social networking company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 42.94% from the company’s previous close.

Several other equities analysts have also recently weighed in on META. Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Securities raised their target price on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Tigress Financial boosted their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. UBS Group increased their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wolfe Research initiated coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $591.23.

Meta Platforms Price Performance

NASDAQ META opened at $567.36 on Thursday. Meta Platforms has a one year low of $279.40 and a one year high of $577.40. The stock has a 50-day moving average of $516.19 and a 200 day moving average of $499.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.23 earnings per share. On average, sell-side analysts forecast that Meta Platforms will post 21.36 EPS for the current year.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The disclosure for this sale can be found here. Insiders have sold 342,358 shares of company stock valued at $179,431,101 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Several large investors have recently modified their holdings of META. Vantage Financial Partners LLC raised its position in Meta Platforms by 3.2% in the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after purchasing an additional 41 shares during the period. Concentrum Wealth Management lifted its stake in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Aveo Capital Partners LLC grew its holdings in shares of Meta Platforms by 45.7% in the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after purchasing an additional 722 shares during the last quarter. 9258 Wealth Management LLC increased its stake in Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after buying an additional 1,594 shares during the period. Finally, Rollins Financial boosted its position in Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after buying an additional 2,133 shares during the period. Institutional investors own 79.91% of the company’s stock.

About Meta Platforms

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.