Meta Platforms (NASDAQ:META) PT Lowered to $600.00 at Wells Fargo & Company

Meta Platforms (NASDAQ:METAGet Free Report) had its price objective reduced by equities researchers at Wells Fargo & Company from $609.00 to $600.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the social networking company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 18.81% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Truist Financial raised their price objective on Meta Platforms from $405.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Mizuho raised their price target on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Monness Crespi & Hardt raised their price target on Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus raised their price target on Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Sanford C. Bernstein raised their price target on Meta Platforms from $435.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $496.13.

Read Our Latest Report on META

Meta Platforms Stock Up 1.5 %

NASDAQ META traded up $7.62 during trading on Wednesday, reaching $504.99. 6,342,906 shares of the company’s stock were exchanged, compared to its average volume of 17,484,664. Meta Platforms has a fifty-two week low of $207.13 and a fifty-two week high of $523.57. The firm has a market capitalization of $1.29 trillion, a PE ratio of 33.92, a P/E/G ratio of 1.26 and a beta of 1.20. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $473.50 and its 200-day simple moving average is $381.00.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. During the same period last year, the company posted $3.00 EPS. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. Sell-side analysts predict that Meta Platforms will post 19.94 EPS for the current year.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total value of $45,601,669.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 10,956 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,502,805 shares of company stock worth $703,056,383. Company insiders own 14.03% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stone House Investment Management LLC lifted its stake in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. MBM Wealth Consultants LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $26,000. Stephens Investment Management Group LLC acquired a new position in shares of Meta Platforms during the second quarter valued at $30,000. Beaird Harris Wealth Management LLC lifted its stake in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Company Profile

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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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Analyst Recommendations for Meta Platforms (NASDAQ:META)

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