Meta Platforms, Inc. (NASDAQ:FB) Receives $313.18 Average PT from Analysts

Shares of Meta Platforms, Inc. (NASDAQ:FBGet Rating) have been given a consensus recommendation of “Buy” by the fifty-one brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $310.07.

FB has been the topic of a number of recent analyst reports. downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating and lowered their price target for the stock from $415.00 to $280.00 in a report on Friday, February 4th. downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, February 24th. Stifel Nicolaus lowered their price target on shares of Meta Platforms from $400.00 to $350.00 in a report on Thursday, February 3rd. KeyCorp lowered their price target on shares of Meta Platforms from $420.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, February 3rd. Finally, Piper Sandler lowered their price target on shares of Meta Platforms from $240.00 to $230.00 in a report on Thursday, April 28th.

NASDAQ FB traded up $6.81 during trading on Friday, hitting $190.64. 749,772 shares of the company’s stock traded hands, compared to its average volume of 35,697,449. The stock has a market capitalization of $515.93 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.21 and a beta of 1.37. Meta Platforms has a 12-month low of $169.00 and a 12-month high of $384.33. The business has a 50 day moving average of $207.33 and a 200-day moving average of $260.78.

Meta Platforms (NASDAQ:FBGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.06. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same period in the prior year, the business earned $3.30 EPS. On average, research analysts expect that Meta Platforms will post 11.63 earnings per share for the current fiscal year.

In other news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $180.53, for a total value of $61,741.26. Following the completion of the transaction, the insider now owns 20,141 shares of the company’s stock, valued at approximately $3,636,054.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 11,718 shares of Meta Platforms stock in a transaction dated Sunday, May 15th. The stock was sold at an average price of $198.62, for a total value of $2,327,429.16. Following the completion of the transaction, the chief technology officer now directly owns 11,913 shares of the company’s stock, valued at approximately $2,366,160.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,100 shares of company stock valued at $9,279,275. 13.59% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OLD Mission Capital LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $251,000. New World Advisors LLC grew its stake in shares of Meta Platforms by 170.8% during the 3rd quarter. New World Advisors LLC now owns 2,248 shares of the social networking company’s stock valued at $730,000 after purchasing an additional 1,418 shares during the period. Bank Pictet & Cie Asia Ltd. grew its stake in shares of Meta Platforms by 29.5% during the 3rd quarter. Bank Pictet & Cie Asia Ltd. now owns 17,172 shares of the social networking company’s stock valued at $5,828,000 after purchasing an additional 3,912 shares during the period. NorthRock Partners LLC grew its stake in shares of Meta Platforms by 85.0% during the 3rd quarter. NorthRock Partners LLC now owns 9,245 shares of the social networking company’s stock valued at $3,188,000 after purchasing an additional 4,249 shares during the period. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $6,006,000. Institutional investors own 65.49% of the company’s stock.

Meta Platforms Company Profile (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; 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:FB)

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