Meta Platforms (NASDAQ:META) Price Target Increased to $588.00 by Analysts at Stifel Nicolaus

Meta Platforms (NASDAQ:METAGet Free Report) had its price objective hoisted by analysts at Stifel Nicolaus from $527.00 to $588.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 18.99% from the stock’s previous close.

META has been the subject of several other research reports. Raymond James upped their price target on shares of Meta Platforms from $450.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 2nd. Oppenheimer upped their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Guggenheim upped their price objective on shares of Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Tigress Financial upped their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a report on Friday, February 9th. Finally, Roth Mkm reissued a “buy” rating and issued a $500.00 price target on shares of Meta Platforms in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $509.90.

Check Out Our Latest Research Report on Meta Platforms

Meta Platforms Stock Down 1.1 %

META stock opened at $494.17 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. Meta Platforms has a 1-year low of $207.13 and a 1-year high of $531.49. The firm has a fifty day moving average price of $493.65 and a two-hundred day moving average price of $396.70. The firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 33.17, a PEG ratio of 1.28 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.00 earnings per share. Research analysts predict that Meta Platforms will post 20.06 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $381.77, for a total transaction of $7,513,615.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $385.00, for a total value of $217,910.00. Following the completion of the transaction, the insider now directly owns 35,286 shares of the company’s stock, valued at $13,585,110. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $381.77, for a total value of $7,513,615.37. The disclosure for this sale can be found here. Insiders have sold a total of 1,440,278 shares of company stock worth $684,796,490 over the last 90 days. Insiders own 14.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Strata Wealth Advisors LLC acquired a new position in Meta Platforms during the first quarter worth $305,000. Dumont & Blake Investment Advisors LLC increased its stake in shares of Meta Platforms by 1.8% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 4,321 shares of the social networking company’s stock valued at $2,098,000 after buying an additional 76 shares in the last quarter. Trilogy Capital Inc. increased its stake in shares of Meta Platforms by 80.6% in the first quarter. Trilogy Capital Inc. now owns 1,754 shares of the social networking company’s stock valued at $852,000 after buying an additional 783 shares in the last quarter. Red Door Wealth Management LLC increased its stake in shares of Meta Platforms by 15.1% in the first quarter. Red Door Wealth Management LLC now owns 3,755 shares of the social networking company’s stock valued at $1,823,000 after buying an additional 494 shares in the last quarter. Finally, Gradient Capital Advisors LLC increased its stake in shares of Meta Platforms by 1.0% in the first quarter. Gradient Capital Advisors LLC now owns 6,125 shares of the social networking company’s stock valued at $2,974,000 after buying an additional 58 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

About Meta Platforms

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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.

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