Meta Platforms (NASDAQ:META) PT Raised to $180.00

Meta Platforms (NASDAQ:METAGet Rating) had its price target boosted by stock analysts at Credit Suisse Group from $145.00 to $180.00 in a research report issued on Wednesday, The Fly reports. Credit Suisse Group’s price target would indicate a potential upside of 25.75% from the company’s previous close.

Other analysts have also issued research reports about the stock. HSBC dropped their target price on shares of Meta Platforms to $110.00 in a research report on Tuesday, November 1st. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $275.00 to $165.00 in a research report on Thursday, October 27th. Oppenheimer lifted their target price on shares of Meta Platforms from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, November 14th. Huber Research lowered shares of Meta Platforms from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 27th. Finally, Tigress Financial lowered their price target on shares of Meta Platforms from $466.00 to $260.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, November 2nd. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $172.40.

Meta Platforms Stock Down 0.1 %

META opened at $143.14 on Wednesday. Meta Platforms has a fifty-two week low of $88.09 and a fifty-two week high of $328.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.57 and a current ratio of 2.57. The company has a fifty day moving average of $121.83 and a two-hundred day moving average of $138.61. The stock has a market capitalization of $379.54 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 2.22 and a beta of 1.17.

Meta Platforms (NASDAQ:METAGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The social networking company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.24). Meta Platforms had a net margin of 24.41% and a return on equity of 23.16%. The firm had revenue of $27.71 billion during the quarter, compared to analysts’ expectations of $27.40 billion. On average, research analysts expect that Meta Platforms will post 8.95 earnings per share for the current year.

Insiders Place Their Bets

In other Meta Platforms news, CAO Susan J.S. Taylor sold 1,421 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $114.39, for a total transaction of $162,548.19. Following the completion of the transaction, the chief accounting officer now owns 2,501 shares in the company, valued at approximately $286,089.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $135.71, for a total value of $46,412.82. Following the completion of the transaction, the insider now owns 24,793 shares in the company, valued at approximately $3,364,658.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Susan J.S. Taylor sold 1,421 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $114.39, for a total transaction of $162,548.19. Following the completion of the transaction, the chief accounting officer now owns 2,501 shares of the company’s stock, valued at approximately $286,089.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,322 shares of company stock worth $4,497,210. 14.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Meta Platforms

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Meta Platforms by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,830,209 shares of the social networking company’s stock valued at $2,630,566,000 after purchasing an additional 128,126 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Meta Platforms in the 4th quarter valued at about $708,348,000. DNB Asset Management AS acquired a new stake in Meta Platforms in the 4th quarter valued at about $401,963,000. Renaissance Technologies LLC grew its stake in Meta Platforms by 310.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the social networking company’s stock valued at $667,302,000 after acquiring an additional 2,270,300 shares during the last quarter. Finally, Ruane Cunniff & Goldfarb L.P. grew its stake in Meta Platforms by 7.2% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 2,834,735 shares of the social networking company’s stock valued at $630,332,000 after acquiring an additional 189,688 shares during the last quarter. Hedge funds and other institutional investors own 60.92% of the company’s stock.

About Meta Platforms

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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