Meta Platforms (NASDAQ:META – Get Free Report) had its price objective lowered by Cantor Fitzgerald from $730.00 to $720.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the social networking company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 13.13% from the stock’s previous close. Cantor Fitzgerald also issued estimates for Meta Platforms’ FY2024 earnings at $22.67 EPS, FY2025 earnings at $25.20 EPS and FY2025 earnings at $25.53 EPS.
A number of other equities analysts have also weighed in on META. Monness Crespi & Hardt upped their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays raised their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Piper Sandler raised their price target on shares of Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $654.20.
View Our Latest Research Report on META
Meta Platforms Stock Up 2.1 %
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts forecast that Meta Platforms will post 22.96 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $618.00, for a total transaction of $559,290.00. Following the completion of the sale, the insider now owns 30,200 shares in the company, valued at approximately $18,663,600. This trade represents a 2.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas Clegg sold 1,131 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $652,767.96. Following the completion of the transaction, the insider now owns 1,229 shares in the company, valued at approximately $709,329.64. This trade represents a 47.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 568,016 shares of company stock valued at $346,031,180. Company insiders own 13.71% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in shares of Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after buying an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after acquiring an additional 6,155 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after purchasing an additional 65 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after purchasing an additional 5,594 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.
About Meta Platforms
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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