Meta Platforms (NASDAQ:META) Price Target Raised to $750.00

Meta Platforms (NASDAQ:META - Get Free Report) had its target price boosted by Mizuho from $675.00 to $750.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the social networking company's stock. Mizuho's price target suggests a potential upside of 9.17% from the stock's current price.

META has been the topic of several other research reports. TD Cowen raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Truist Financial raised their target price on Meta Platforms from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, December 17th. Scotiabank cut their price target on shares of Meta Platforms from $585.00 to $583.00 and set a "sector perform" rating for the company in a report on Thursday, October 31st. Wedbush restated an "outperform" rating and issued a $700.00 target price (up previously from $680.00) on shares of Meta Platforms in a research report on Wednesday, January 22nd. Finally, Raymond James raised their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $703.38.

Meta Platforms Stock Performance

Shares of META stock traded up $10.51 on Thursday, hitting $687.00. The company had a trading volume of 29,271,983 shares, compared to its average volume of 15,711,077. Meta Platforms has a twelve month low of $387.10 and a twelve month high of $710.79. 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 firm has a market cap of $1.73 trillion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company has a 50-day moving average price of $608.52 and a 200-day moving average price of $563.58.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. During the same period in the prior year, the firm earned $5.33 earnings per share. As a group, equities research analysts predict that Meta Platforms will post 22.96 earnings per share for the current fiscal year.

Insider Transactions at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the sale, the chief operating officer now directly owns 10,294 shares of the company's stock, valued at $5,842,668.52. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 661,312 shares of company stock worth $407,377,422. 13.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Meta Platforms

Several large investors have recently modified their holdings of the stock. Copperleaf Capital LLC lifted its holdings in shares of Meta Platforms by 10.4% in the 4th quarter. Copperleaf Capital LLC now owns 4,406 shares of the social networking company's stock valued at $2,580,000 after buying an additional 415 shares during the period. Palouse Capital Management Inc. grew its stake in shares of Meta Platforms by 2.1% during the 4th quarter. Palouse Capital Management Inc. now owns 3,218 shares of the social networking company's stock worth $1,884,000 after purchasing an additional 65 shares during the period. WD Rutherford LLC lifted its stake in shares of Meta Platforms by 11.0% in the fourth quarter. WD Rutherford LLC now owns 5,460 shares of the social networking company's stock valued at $3,197,000 after purchasing an additional 540 shares during the period. Lee Financial Co grew its position in Meta Platforms by 2.8% during the fourth quarter. Lee Financial Co now owns 1,995 shares of the social networking company's stock worth $1,168,000 after buying an additional 55 shares during the period. Finally, VeraBank N.A. increased its holdings in Meta Platforms by 0.8% in the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock valued at $1,144,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

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.