Meta Platforms (NASDAQ:META) Price Target Cut to $555.00

Meta Platforms (NASDAQ:META) had its price objective lowered by research analysts at KeyCorp from $575.00 to $555.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the social networking company’s stock. KeyCorp’s price target would indicate a potential upside of 11.87% from the stock’s current price.

META has been the subject of a number of other research reports. JMP Securities increased their target price on shares of Meta Platforms from $410.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Susquehanna raised their price target on shares of Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research report on Friday, February 2nd. Jefferies Financial Group upped their target price on shares of Meta Platforms from $550.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Tigress Financial increased their target price on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. Finally, TD Cowen raised their price objective on shares of Meta Platforms from $415.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $520.28.

Meta Platforms Trading Up 3.0 %

Shares of Meta Platforms stock opened at $496.10 on Monday. The firm has a 50-day moving average of $495.52 and a 200-day moving average of $402.50. The stock has a market cap of $1.26 trillion, a PE ratio of 33.30, a PEG ratio of 1.22 and a beta of 1.20. Meta Platforms has a 52-week low of $207.13 and a 52-week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The business had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. During the same quarter in the prior year, the business posted $3.00 earnings per share. Meta Platforms’s revenue was up 24.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Meta Platforms will post 20.18 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $394.76, for a total transaction of $7,769,271.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $394.76, for a total transaction of $7,769,271.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $501.18, for a total transaction of $245,578.20. Following the completion of the transaction, the chief operating officer now owns 7,089 shares in the company, valued at approximately $3,552,865.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,368,244 shares of company stock valued at $657,034,449. 14.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Meta Platforms

A number of hedge funds have recently bought and sold shares of META. S.A. Mason LLC raised its position in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN boosted its stake in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the period. LongView Wealth Management boosted its stake in Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the period. Hanson & Doremus Investment Management lifted its position in shares of Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after purchasing an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc lifted its position in shares of Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after purchasing an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.