Meta Platforms (NASDAQ:META) Price Target Cut to $535.00 by Analysts at Truist Financial

Meta Platforms (NASDAQ:META) had its price target dropped by investment analysts at Truist Financial from $550.00 to $535.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the social networking company’s stock. Truist Financial’s price target would indicate a potential upside of 20.69% from the company’s current price.

A number of other brokerages have also issued reports on META. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday. Bank of America raised their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Roth Mkm raised their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $545.00 target price (down from $600.00) on shares of Meta Platforms in a report on Thursday. Finally, Raymond James cut their target price on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $509.18.

Meta Platforms Trading Up 0.4 %

Shares of META opened at $443.29 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.67. Meta Platforms has a 1 year low of $229.85 and a 1 year high of $531.49. The company has a 50 day simple moving average of $494.48 and a two-hundred day simple moving average of $404.27. The firm has a market cap of $1.13 trillion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, equities analysts expect that Meta Platforms will post 20.33 earnings per share for the current fiscal year.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,349,148 shares of company stock worth $649,552,559. Insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of large investors have recently bought and sold shares of the company. Stone House Investment Management LLC lifted its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $32,000. PayPay Securities Corp raised its stake in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after buying an additional 43 shares during the period. Finally, Clear Investment Research LLC raised its stake in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the period. 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.