Rosenblatt Securities Boosts Meta Platforms (NASDAQ:META) Price Target to $562.00

Meta Platforms (NASDAQ:META) had its price target lifted by equities researchers at Rosenblatt Securities from $520.00 to $562.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the social networking company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 13.88% from the company’s previous close.

A number of other analysts also recently issued reports on META. Morgan Stanley lifted their price target on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Wolfe Research lifted their price objective on shares of Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Barclays increased their target price on Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Raymond James lifted their price target on Meta Platforms from $450.00 to $550.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 2nd. Finally, Jefferies Financial Group increased their price objective on Meta Platforms from $550.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. One research 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $521.30.

Meta Platforms Trading Down 0.5 %

Shares of Meta Platforms stock opened at $493.50 on Thursday. The company’s 50-day moving average price is $495.93 and its 200-day moving average price is $403.14. The company has a market cap of $1.26 trillion, a price-to-earnings ratio of 33.12, a PEG ratio of 1.27 and a beta of 1.20. Meta Platforms has a 12-month low of $207.13 and a 12-month high of $531.49. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. On average, equities analysts expect that Meta Platforms will post 20.18 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

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 transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction dated 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 completion of the sale, the chief technology officer now directly owns 18,432 shares in the company, valued at approximately $8,723,496.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $239,134.70. Following 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 sold 1,368,244 shares of company stock valued at $657,034,449 over the last 90 days. Corporate insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of large investors have recently added to or reduced their stakes in META. Keb Asset Management LLC boosted its position in Meta Platforms by 1.9% in the first quarter. Keb Asset Management LLC now owns 4,646 shares of the social networking company’s stock worth $2,256,000 after purchasing an additional 86 shares during the last quarter. IFG Advisors LLC raised its position in Meta Platforms by 1.3% in the first quarter. IFG Advisors LLC now owns 1,913 shares of the social networking company’s stock worth $929,000 after acquiring an additional 25 shares during the period. IMA Wealth Inc. grew its position in shares of Meta Platforms by 21.0% during the 1st quarter. IMA Wealth Inc. now owns 11,457 shares of the social networking company’s stock valued at $5,563,000 after acquiring an additional 1,988 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Meta Platforms by 8.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 279,267 shares of the social networking company’s stock worth $135,606,000 after purchasing an additional 22,647 shares in the last quarter. Finally, Elite Wealth Management Inc. raised its holdings in Meta Platforms by 53.0% in the 1st quarter. Elite Wealth Management Inc. now owns 23,755 shares of the social networking company’s stock worth $11,535,000 after purchasing an additional 8,231 shares during the period. 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.