Robert W. Baird Boosts Meta Platforms (NASDAQ:META) Price Target to $220.00

Meta Platforms (NASDAQ:META – Get Rating) had its price target raised by Robert W. Baird from $205.00 to $220.00 in a report published on Wednesday, The Fly reports.

Several other equities analysts have also commented on META. Citigroup increased their price objective on shares of Meta Platforms from $228.00 to $260.00 and gave the company a buy rating in a research report on Wednesday. Truist Financial increased their price target on shares of Meta Platforms from $215.00 to $230.00 in a report on Tuesday. Tigress Financial boosted their price objective on Meta Platforms from $260.00 to $285.00 and gave the stock a strong-buy rating in a research note on Friday, February 10th. Cowen raised their price objective on Meta Platforms from $135.00 to $175.00 and gave the company a market perform rating in a research note on Thursday, February 2nd. Finally, Guggenheim boosted their target price on Meta Platforms from $130.00 to $210.00 and gave the company a buy rating in a research report on Thursday, February 2nd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of Moderate Buy and a consensus price target of $209.27.

Meta Platforms Stock Down 4.5 %

META opened at $195.61 on Wednesday. Meta Platforms has a 52 week low of $88.09 and a 52 week high of $236.86. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $166.42 and a two-hundred day simple moving average of $140.33. The company has a market capitalization of $507.15 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.89 and a beta of 1.18.

Meta Platforms (NASDAQ:META – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The social networking company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.88. The business had revenue of $32.17 billion during the quarter, compared to analysts’ expectations of $31.69 billion. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.67 EPS. Analysts forecast that Meta Platforms will post 9.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 342 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $116.70, for a total transaction of $39,911.40. Following the completion of the sale, the insider now directly owns 26,161 shares in the company, valued at approximately $3,052,988.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Marne L. Levine sold 23,317 shares of Meta Platforms stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $191.00, for a total value of $4,453,547.00. Following the transaction, the insider now directly owns 4,136 shares of the company’s stock, valued at $789,976. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 342 shares of the stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $116.70, for a total value of $39,911.40. Following the sale, the insider now owns 26,161 shares of the company’s stock, valued at approximately $3,052,988.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,342 shares of company stock valued at $12,285,012. 14.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in META. Heritage Wealth Management LLC acquired a new position in shares of Meta Platforms during the second quarter valued at about $146,000. RDA Financial Network acquired a new stake in Meta Platforms in the 4th quarter worth approximately $1,661,000. SOA Wealth Advisors LLC. purchased a new stake in Meta Platforms during the 4th quarter worth approximately $300,000. West Financial Advisors LLC acquired a new position in Meta Platforms during the 4th quarter valued at approximately $117,000. Finally, Linscomb & Williams Inc. raised its holdings in shares of Meta Platforms by 13.7% in the second quarter. Linscomb & Williams Inc. now owns 20,692 shares of the social networking company’s stock worth $3,337,000 after buying an additional 2,496 shares during the last quarter. 60.92% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.