Meta Platforms (NASDAQ:META) Given New $725.00 Price Target at JPMorgan Chase & Co.

Meta Platforms (NASDAQ:META - Get Free Report) had its price target increased by analysts at JPMorgan Chase & Co. from $660.00 to $725.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the social networking company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 17.04% from the company's current price.

Other research analysts also recently issued research reports about the company. Truist Financial boosted their target price on Meta Platforms from $650.00 to $700.00 and gave the stock a "buy" rating in a research note on Tuesday. UBS Group increased their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. TD Cowen boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Barclays increased their price target on Meta Platforms from $550.00 to $630.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group upped their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average price target of $638.00.

Meta Platforms Stock Down 0.8 %

Shares of NASDAQ META opened at $619.44 on Wednesday. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 29.18, a PEG ratio of 1.39 and a beta of 1.20. The stock's fifty day moving average is $585.29 and its 200 day moving average is $540.45. Meta Platforms has a 52 week low of $337.02 and a 52 week high of $638.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts forecast that Meta Platforms will post 22.68 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the sale, the insider now directly owns 38,695 shares in the company, valued at $21,416,908.60. This represents a 15.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares in the company, valued at approximately $188,810,838.24. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,018 shares of company stock worth $148,605,500. Insiders own 13.71% of the company's stock.

Institutional Trading of Meta Platforms

A number of hedge funds have recently made changes to their positions in the stock. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the third quarter valued at approximately $36,000. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter valued at approximately $38,000. Halpern Financial Inc. purchased a new position in shares of Meta Platforms in the third quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms during the 3rd quarter valued at $49,000. 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.

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