Meta Platforms, Inc. (NASDAQ:META) Receives $840.31 Consensus Price Target from Brokerages

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) has received an average recommendation of “Moderate Buy” from the forty-seven brokerages that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation, thirty-four have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $840.3095.

META has been the subject of several research reports. Cantor Fitzgerald reduced their target price on Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Wolfe Research reduced their target price on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Stifel Nicolaus reduced their target price on Meta Platforms from $805.00 to $780.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Morgan Stanley reduced their target price on Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Meta Platforms from $880.00 to $920.00 and gave the company a “buy” rating in a research note on Thursday, January 29th.

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Meta Platforms Stock Performance

Shares of META opened at $603.00 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a 50-day moving average of $624.72 and a 200-day moving average of $642.58. The company has a market cap of $1.53 trillion, a PE ratio of 21.92, a P/E/G ratio of 1.05 and a beta of 1.25. Meta Platforms has a one year low of $520.26 and a one year high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period last year, the business posted $6.43 EPS. On average, equities research analysts predict that Meta Platforms will post 29.65 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Monday, March 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is 7.63%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 8,089 shares of Meta Platforms stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $631.24, for a total transaction of $5,106,100.36. Following the completion of the transaction, the chief technology officer owned 2,841 shares in the company, valued at approximately $1,793,352.84. The trade was a 74.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 56,571 shares of Meta Platforms stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $644.70, for a total value of $36,471,323.70. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 167,676 shares of company stock worth $107,299,848. Insiders own 13.61% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently modified their holdings of the business. Alpine Bank Wealth Management raised its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Alpine Bank Wealth Management now owns 4,301 shares of the social networking company’s stock worth $3,159,000 after purchasing an additional 14 shares during the period. Valued Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 3.2% in the 3rd quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock worth $334,000 after purchasing an additional 14 shares during the period. First National Bank Sioux Falls raised its holdings in shares of Meta Platforms by 0.7% in the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock worth $1,321,000 after purchasing an additional 14 shares during the period. Levin Capital Strategies L.P. raised its holdings in shares of Meta Platforms by 1.4% in the 4th quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock worth $649,000 after purchasing an additional 14 shares during the period. Finally, Vista Capital Partners Inc. raised its holdings in shares of Meta Platforms by 1.3% in the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Company Profile

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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