Roth Mkm Increases Meta Platforms (NASDAQ:META) Price Target to $635.00

Meta Platforms (NASDAQ:META) had its price objective lifted by stock analysts at Roth Mkm from $620.00 to $635.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the social networking company’s stock. Roth Mkm’s target price points to a potential upside of 12.71% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Guggenheim increased their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. JMP Securities increased their price target on shares of Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research report on Thursday, September 26th. Piper Sandler increased their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $631.59.

Meta Platforms Stock Down 4.8 %

Shares of META stock traded down $28.40 on Thursday, hitting $563.40. The stock had a trading volume of 18,103,590 shares, compared to its average volume of 15,119,335. The business has a 50 day moving average of $554.49 and a 200 day moving average of $512.18. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms has a 12-month low of $296.86 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. As a group, analysts expect that Meta Platforms will post 21.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,818 shares of company stock valued at $132,569,993 over the last three months. 13.71% of the stock is owned by company insiders.

Institutional Trading of Meta Platforms

Several large investors have recently added to or reduced their stakes in META. Delos Wealth Advisors LLC boosted its holdings in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares in the last quarter. Finally, Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $46,000. 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.