Meta Platforms (NASDAQ:META) Given New $510.00 Price Target at Roth Mkm

Meta Platforms (NASDAQ:META) had its price target lifted by analysts at Roth Mkm from $500.00 to $510.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the social networking company’s stock. Roth Mkm’s price target indicates a potential upside of 17.68% from the company’s previous close.

Several other equities research analysts have also recently commented on META. JMP Securities reissued a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday. Bank of America lifted their price objective on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Guggenheim lifted their price objective on Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada lifted their price objective on Meta Platforms from $400.00 to $565.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Susquehanna lifted their price objective on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $512.80.

Meta Platforms Price Performance

META stock traded down $60.12 during midday trading on Thursday, reaching $433.38. 43,803,629 shares of the company’s stock traded hands, compared to its average volume of 17,654,738. The company has a 50-day simple moving average of $495.93 and a two-hundred day simple moving average of $403.14. Meta Platforms has a 1-year low of $208.88 and a 1-year high of $531.49. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 28.84, a PEG ratio of 1.27 and a beta of 1.20. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. On average, analysts anticipate that Meta Platforms will post 20.18 earnings per share for the current year.

Insider Activity

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $394.76, for a total value of $7,769,271.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,368,244 shares of company stock valued at $657,034,449. 13.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently added to or reduced their stakes in META. Norges Bank bought a new stake in Meta Platforms during the fourth quarter worth $11,285,855,000. FMR LLC lifted its stake in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after purchasing an additional 4,908,251 shares during the last quarter. Capital Research Global Investors lifted its stake in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Finally, Concentrum Wealth Management lifted its stake in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Company Profile

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.