Meta Platforms (NASDAQ:META) Given New $935.00 Price Target at Tigress Financial

Meta Platforms (NASDAQ:META) had its price objective raised by equities research analysts at Tigress Financial from $645.00 to $935.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the social networking company’s stock. Tigress Financial’s price target would indicate a potential upside of 30.62% from the stock’s previous close.

META has been the topic of several other research reports. UBS Group increased their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group boosted their price target on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. BMO Capital Markets increased their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Wolfe Research upped their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $770.00 price objective (up from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $717.90.

Meta Platforms Price Performance

META stock traded down $1.59 on Tuesday, hitting $715.81. 3,070,421 shares of the company’s stock traded hands, compared to its average volume of 15,414,232. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.81 trillion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 1.46 and a beta of 1.20. Meta Platforms has a 1-year low of $414.50 and a 1-year high of $725.01. The stock has a fifty day moving average of $629.73 and a 200-day moving average of $576.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the firm posted $5.33 EPS. On average, analysts forecast that Meta Platforms will post 26.66 EPS for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the sale, the insider now owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 756,735 shares of company stock worth $475,285,232. Corporate insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JDM Financial Group LLC bought a new stake in Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the third quarter valued at approximately $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms during the fourth quarter worth approximately $41,000. Cordant Inc. bought a new position in Meta Platforms during the 4th quarter worth $59,000. Finally, Reston Wealth Management LLC acquired a new position in Meta Platforms in the 3rd quarter valued at $61,000. 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.