Meta Platforms (NASDAQ:META) PT Raised to $562.00 at Rosenblatt Securities

Meta Platforms (NASDAQ:META) had its target price upped by investment analysts at Rosenblatt Securities from $520.00 to $562.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the social networking company’s stock. Rosenblatt Securities’ price objective points to a potential upside of 26.78% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. TD Cowen lifted 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. Tigress Financial boosted their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $420.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, KeyCorp cut their price target on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Stock Performance

Shares of META stock opened at $443.29 on Thursday. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.26 and a beta of 1.20. Meta Platforms has a one year low of $229.85 and a one year high of $531.49. The company’s 50-day simple moving average is $494.48 and its 200-day simple moving average is $404.27. 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 released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. Equities analysts anticipate that Meta Platforms will post 20.18 earnings per share for the current fiscal year.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares in the company, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,349,148 shares of company stock valued at $649,552,559 over the last ninety days. Corporate insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors have recently modified their holdings of META. Vanguard Group Inc. increased its position in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. FMR LLC grew its stake in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares in the last quarter. Capital World Investors increased its holdings in Meta Platforms by 2.5% in the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after buying an additional 927,491 shares during the last quarter. Morgan Stanley raised its position in Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after acquiring an additional 1,184,978 shares in the last quarter. Finally, Capital International Investors raised its position in Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares in the last quarter. Institutional investors and hedge funds 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.