Meta Platforms (NASDAQ:META) Earns “Buy” Rating from Rosenblatt Securities

Meta Platforms (NASDAQ:META)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They presently have a $886.00 target price on the social networking company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 15.36% from the stock’s current price.

META has been the topic of a number of other research reports. Citic Securities dropped their price target on Meta Platforms from $770.00 to $718.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. President Capital upgraded Meta Platforms from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $660.00 to $897.00 in a report on Thursday, September 24th. Scotiabank reaffirmed a “sector perform” rating and set a $600.00 price objective (down from $700.00) on shares of Meta Platforms in a research note on Thursday, July 30th. Susquehanna decreased their target price on shares of Meta Platforms from $900.00 to $650.00 and set a “positive” rating for the company in a report on Thursday, July 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $770.00 target price on shares of Meta Platforms in a research report on Thursday, September 24th. Three investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $796.51.

Meta Platforms Price Performance

Shares of META traded up $25.07 during trading hours on Tuesday, hitting $768.03. 10,074,726 shares of the company were exchanged, compared to its average volume of 17,435,533. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market capitalization of $1.96 trillion, a PE ratio of 28.92, a PEG ratio of 1.25 and a beta of 1.19. The firm has a fifty day simple moving average of $644.04 and a 200-day simple moving average of $621.26. Meta Platforms has a one year low of $520.26 and a one year high of $779.82.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%. The company had revenue of $60.80 billion for the quarter, compared to analyst estimates of $60.22 billion. During the same period last year, the firm earned $7.14 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, sell-side analysts predict that Meta Platforms will post 27.94 earnings per share for the current year.

Insider Buying and Selling

In other Meta Platforms news, insider Christopher Cox sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $712.76, for a total transaction of $28,510,400.00. Following the completion of the sale, the insider directly owned 184,516 shares in the company, valued at approximately $131,515,624.16. This trade represents a 17.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Zuckerberg sold 27,474 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $777.44, for a total value of $21,359,386.56. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 148,222 shares of company stock valued at $101,033,627. Corporate insiders own 13.53% of the company’s stock.

Institutional Trading of Meta Platforms

Several institutional investors have recently made changes to their positions in the stock. Fairtree Asset Management Pty Ltd lifted its holdings in shares of Meta Platforms by 18.6% during the 2nd quarter. Fairtree Asset Management Pty Ltd now owns 18,777 shares of the social networking company’s stock valued at $10,577,000 after buying an additional 2,939 shares during the last quarter. Madison Wealth Partners Inc increased its holdings in Meta Platforms by 33.6% in the second quarter. Madison Wealth Partners Inc now owns 3,031 shares of the social networking company’s stock worth $1,707,000 after buying an additional 763 shares during the last quarter. William John Sempolinski acquired a new position in Meta Platforms in the second quarter worth approximately $3,107,000. Sone Capital Management LLC raised its position in Meta Platforms by 38.2% during the second quarter. Sone Capital Management LLC now owns 16,059 shares of the social networking company’s stock valued at $9,046,000 after acquiring an additional 4,440 shares in the last quarter. Finally, Lakewood Capital Management LP raised its position in Meta Platforms by 63.7% during the second quarter. Lakewood Capital Management LP now owns 115,985 shares of the social networking company’s stock valued at $65,333,000 after acquiring an additional 45,130 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta introduced Muse Wonder and Muse Wonder Full, its first “frontier” AI models, claiming performance comparable with leading offerings from OpenAI and Anthropic. The models are intended to improve Meta’s AI assistant and support complex, multistep tasks. Reuters article
• Positive Sentiment: Third-party app data reportedly showed Muse’s early retention rates rivaling ChatGPT, easing concerns about user adoption and helping drive the stock higher. Meta is also testing a monetization model with $20 and $100 monthly subscription tiers. Why Meta Stock Is Up Today
• Positive Sentiment: Wall Street remains constructive: KeyCorp reaffirmed an overweight rating with a $900 target, while Rosenblatt reiterated buy with an $886 target. Truist also believes Meta may have further upside following the Muse announcement. Barron’s Meta Stock Analysis

Meta Platforms Company Profile

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company operates a global family of apps that includes Facebook, Instagram, Messenger, WhatsApp and Threads, enabling users to connect, communicate, share content and discover communities.

Meta generates most of its business through digital advertising displayed across its platforms. Its products serve individuals, creators, businesses and organizations in markets around the world, while its advertising tools help businesses reach audiences based on factors such as interests, activity and demographics.

Through its Reality Labs division, Meta develops virtual and augmented reality hardware, software and services, including the Meta Quest line of headsets and related experiences.