Oppenheimer Increases Meta Platforms (NASDAQ:META) Price Target to $800.00

Meta Platforms (NASDAQ:META) had its price target increased by stock analysts at Oppenheimer from $650.00 to $800.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the social networking company’s stock. Oppenheimer’s price target indicates a potential upside of 16.08% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group lifted their target price on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price target on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson lifted their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Roth Mkm increased their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $706.76.

Meta Platforms Price Performance

Shares of META opened at $689.18 on Thursday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.74 trillion, a PE ratio of 28.81, a PEG ratio of 1.35 and a beta of 1.19. Meta Platforms has a 12-month low of $387.10 and a 12-month high of $710.79. The business has a 50-day simple moving average of $613.60 and a two-hundred day simple moving average of $565.78.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 39.74% and a net margin of 37.91%. During the same period in the prior year, the company earned $5.33 earnings per share. Analysts anticipate that Meta Platforms will post 25.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total transaction of $24,195,307.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the sale, the insider now owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 661,804 shares of company stock valued at $407,745,741 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Meta Platforms

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC lifted its position in shares of Meta Platforms by 9.3% during the 4th quarter. Global Retirement Partners LLC now owns 42,603 shares of the social networking company’s stock valued at $24,944,000 after buying an additional 3,615 shares during the last quarter. Semus Wealth Partners LLC lifted its holdings in Meta Platforms by 14.3% during the fourth quarter. Semus Wealth Partners LLC now owns 3,259 shares of the social networking company’s stock valued at $1,908,000 after purchasing an additional 408 shares during the last quarter. Convergence Investment Partners LLC boosted its position in Meta Platforms by 29.8% during the fourth quarter. Convergence Investment Partners LLC now owns 17,452 shares of the social networking company’s stock worth $10,218,000 after purchasing an additional 4,008 shares during the period. Allied Investment Advisors LLC increased its stake in shares of Meta Platforms by 3.8% in the fourth quarter. Allied Investment Advisors LLC now owns 489 shares of the social networking company’s stock worth $286,000 after purchasing an additional 18 shares in the last quarter. Finally, Atlas Legacy Advisors LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $1,301,000. 79.91% of the stock is 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.