Meta Platforms (NASDAQ:META) PT Raised to $600.00 at Raymond James

Meta Platforms (NASDAQ:META) had its price objective increased by analysts at Raymond James from $550.00 to $600.00 in a report issued on Monday, Briefing.com reports. The firm presently has a “strong-buy” rating on the social networking company’s stock. Raymond James’ price target would suggest a potential upside of 19.68% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Monday. Canaccord Genuity Group cut their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wedbush cut their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group cut their target price on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Roth Mkm boosted their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Meta Platforms Stock Down 0.6 %

META traded down $2.89 during trading on Monday, hitting $501.33. The stock had a trading volume of 1,236,339 shares, compared to its average volume of 16,323,208. The company has a market capitalization of $1.27 trillion, a PE ratio of 28.50, a PEG ratio of 1.31 and a beta of 1.21. Meta Platforms has a twelve month low of $274.38 and a twelve month high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a 50 day simple moving average of $480.00 and a two-hundred day simple moving average of $455.62.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, research analysts predict that Meta Platforms will post 20.16 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction 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 legal filing with the SEC, which is accessible through this link. In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction 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 legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last three months, insiders sold 201,557 shares of company stock worth $97,894,296. 13.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds have recently modified their holdings of META. Beaird Harris Wealth Management LLC boosted its position in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC lifted its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC lifted its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Finally, Cranbrook Wealth Management LLC lifted its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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.