Meta Platforms (NASDAQ:META – Get Rating) will be announcing its earnings results after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of $2.12 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.
Meta Platforms (NASDAQ:META – Get 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 the consensus estimate of $1.88 by ($0.24). The business had revenue of $27.71 billion during the quarter, compared to analyst estimates of $27.40 billion. Meta Platforms had a net margin of 24.41% and a return on equity of 23.16%. On average, analysts expect Meta Platforms to post $9 EPS for the current fiscal year and $8 EPS for the next fiscal year.
Meta Platforms Stock Performance
NASDAQ:META opened at $143.14 on Wednesday. The stock’s 50-day simple moving average is $121.83 and its 200 day simple moving average is $138.61. The firm has a market capitalization of $379.54 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 2.16 and a beta of 1.17. Meta Platforms has a twelve month low of $88.09 and a twelve month high of $328.00. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.08.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Meta Platforms from $275.00 to $165.00 in a research report on Thursday, October 27th. Truist Financial lowered their price objective on shares of Meta Platforms from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, October 27th. Canaccord Genuity Group lowered their price objective on shares of Meta Platforms from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, October 27th. Canaccord Genuity Group lowered their price objective on shares of Meta Platforms from $200.00 to $170.00 in a research report on Thursday, November 10th. Finally, Mizuho upped their price objective on shares of Meta Platforms from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 5th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $171.67.
Insider Activity at Meta Platforms
In related news, insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $135.71, for a total transaction of $46,412.82. Following the transaction, the insider now directly owns 24,793 shares of the company’s stock, valued at $3,364,658.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Andrew Bosworth sold 11,718 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $114.22, for a total transaction of $1,338,429.96. Following the completion of the sale, the chief technology officer now owns 11,913 shares in the company, valued at $1,360,702.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $135.71, for a total transaction of $46,412.82. Following the sale, the insider now owns 24,793 shares of the company’s stock, valued at approximately $3,364,658.03. The disclosure for this sale can be found here. Insiders have sold 39,322 shares of company stock valued at $4,497,210 over the last ninety days. Corporate insiders own 14.03% of the company’s stock.
Institutional Trading of Meta Platforms
A number of large investors have recently added to or reduced their stakes in META. Fairfield Bush & CO. purchased a new stake in Meta Platforms during the first quarter worth about $66,000. EJF Capital LLC purchased a new position in shares of Meta Platforms in the first quarter worth about $222,000. Vista Investment Management increased its stake in shares of Meta Platforms by 37.4% in the first quarter. Vista Investment Management now owns 1,451 shares of the social networking company’s stock worth $323,000 after purchasing an additional 395 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Meta Platforms by 22.8% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 1,602 shares of the social networking company’s stock worth $356,000 after purchasing an additional 297 shares in the last quarter. Finally, Studio Investment Management LLC increased its stake in shares of Meta Platforms by 40.7% in the first quarter. Studio Investment Management LLC now owns 1,783 shares of the social networking company’s stock worth $396,000 after purchasing an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 60.92% of the company’s stock.
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.