Meta Platforms (NASDAQ:FB – Get Rating) had its target price reduced by stock analysts at MKM Partners from $315.00 to $295.00 in a note issued to investors on Thursday, The Fly reports. MKM Partners’ price objective would indicate a potential upside of 68.62% from the stock’s previous close.
Several other research firms have also commented on FB. Jefferies Financial Group reduced their price objective on Meta Platforms from $420.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, February 3rd. Loop Capital lowered Meta Platforms from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $380.00 to $230.00 in a research note on Thursday, February 3rd. Moffett Nathanson reduced their price objective on Meta Platforms from $420.00 to $380.00 and set a “buy” rating for the company in a research note on Thursday, February 3rd. BMO Capital Markets dropped their target price on shares of Meta Platforms from $290.00 to $225.00 in a report on Friday, April 22nd. Finally, Sanford C. Bernstein dropped their target price on shares of Meta Platforms from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Buy” and an average target price of $316.80.
Shares of NASDAQ FB opened at $174.95 on Thursday. Meta Platforms has a twelve month low of $169.00 and a twelve month high of $384.33. The firm has a market cap of $476.20 billion, a P/E ratio of 12.68, a PEG ratio of 1.15 and a beta of 1.39. The company has a 50 day moving average of $207.88 and a 200 day moving average of $278.80.
Meta Platforms (NASDAQ:FB – Get Rating) last announced its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.06. Meta Platforms had a net margin of 33.38% and a return on equity of 29.71%. During the same quarter last year, the firm posted $3.30 earnings per share. Equities research analysts predict that Meta Platforms will post 12.05 earnings per share for the current year.
In related news, insider Jennifer Newstead sold 125 shares of the firm’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $314.46, for a total transaction of $39,307.50. 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 2,272 shares of the firm’s stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $214.00, for a total transaction of $486,208.00. The disclosure for this sale can be found here. Insiders have sold 7,751 shares of company stock valued at $1,669,746 over the last quarter. Insiders own 14.01% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FB. Norges Bank purchased a new position in Meta Platforms in the fourth quarter valued at $9,595,113,000. Dodge & Cox grew its position in shares of Meta Platforms by 78.7% in the fourth quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock valued at $2,238,518,000 after purchasing an additional 2,931,894 shares during the period. Capital International Investors grew its position in shares of Meta Platforms by 5.9% in the fourth quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock valued at $17,413,576,000 after purchasing an additional 2,888,336 shares during the period. HS Management Partners LLC grew its position in shares of Meta Platforms by 463.7% in the fourth quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock valued at $182,104,000 after purchasing an additional 2,325,382 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Meta Platforms by 65.9% in the first quarter. Assenagon Asset Management S.A. now owns 5,738,295 shares of the social networking company’s stock valued at $1,275,967,000 after purchasing an additional 2,278,994 shares during the period. 65.64% of the stock is owned by institutional investors.
Meta Platforms Company Profile
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.