Meta Platforms (NASDAQ:META) Given New $220.00 Price Target at Robert W. Baird

Meta Platforms (NASDAQ:META – Get Rating) had its price target boosted by Robert W. Baird from $205.00 to $220.00 in a research report sent to investors on Wednesday morning, The Fly reports.

Other analysts have also recently issued reports about the company. Guggenheim increased their target price on Meta Platforms from $130.00 to $210.00 and gave the stock a buy rating in a research note on Thursday, February 2nd. Rosenblatt Securities raised Meta Platforms from a neutral rating to a buy rating and increased their target price for the stock from $104.00 to $220.00 in a research note on Thursday, February 2nd. Mizuho upped their price target on Meta Platforms from $210.00 to $235.00 in a research report on Wednesday. Bank of America upped their price target on Meta Platforms from $220.00 to $230.00 in a research report on Tuesday, March 14th. Finally, Truist Financial increased their price objective on Meta Platforms from $215.00 to $230.00 in a report on Tuesday, March 14th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $209.27.

Meta Platforms Stock Performance

Meta Platforms stock opened at $195.61 on Wednesday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.08. Meta Platforms has a 1 year low of $88.09 and a 1 year high of $236.86. The company has a market cap of $507.15 billion, a PE ratio of 22.80, a PEG ratio of 1.87 and a beta of 1.18. The company’s 50-day moving average is $166.42 and its two-hundred day moving average is $140.22.

Meta Platforms (NASDAQ:META – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The social networking company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.88. The company had revenue of $32.17 billion during the quarter, compared to analysts’ expectations of $31.69 billion. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. Meta Platforms’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 EPS. Equities analysts anticipate that Meta Platforms will post 10.31 earnings per share for the current year.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the company’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $116.44, for a total value of $39,822.48. Following the transaction, the insider now directly owns 25,819 shares in the company, valued at approximately $3,006,364.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $116.44, for a total transaction of $39,822.48. Following the completion of the sale, the insider now directly owns 25,819 shares in the company, valued at approximately $3,006,364.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marne L. Levine sold 23,317 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $191.00, for a total value of $4,453,547.00. Following the completion of the sale, the insider now owns 4,136 shares of the company’s stock, valued at approximately $789,976. The disclosure for this sale can be found here. Insiders have sold 68,342 shares of company stock worth $12,285,012 in the last ninety days. 14.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. bought a new stake in shares of Meta Platforms in the 1st quarter worth $66,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Meta Platforms by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock worth $499,020,000 after acquiring an additional 249,926 shares during the period. Ergoteles LLC grew its holdings in shares of Meta Platforms by 284.0% in the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after acquiring an additional 2,482 shares during the period. First Western Trust Bank purchased a new position in Meta Platforms during the first quarter valued at $813,000. Finally, Oxford Financial Group Ltd. lifted its position in Meta Platforms by 26.9% during the first quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock valued at $420,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 60.92% of the company’s stock.

Meta Platforms Company Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.