Meta Platforms (NASDAQ:META) Price Target Lowered to $550.00 at Loop Capital

Meta Platforms (NASDAQ:META) had its target price decreased by stock analysts at Loop Capital from $555.00 to $550.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. Loop Capital’s target price points to a potential upside of 24.52% from the stock’s current price.

META has been the subject of several other reports. Wolfe Research reduced their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Monness Crespi & Hardt upped their target price on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Bank of America upped their price objective on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Guggenheim dropped their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $441.68 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms has a 12 month low of $229.85 and a 12 month high of $531.49. The stock has a 50 day moving average of $492.25 and a 200-day moving average of $407.19. The company has a market capitalization of $1.13 trillion, a P/E ratio of 25.32, a P/E/G ratio of 1.12 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities research analysts predict that Meta Platforms will post 20.1 EPS for the current year.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 552 shares of Meta Platforms stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total value of $256,128.00. Following the transaction, the insider now owns 34,168 shares in the company, valued at $15,853,952. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 34,398 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 552 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total value of $256,128.00. Following the transaction, the insider now owns 34,168 shares in the company, valued at approximately $15,853,952. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,257,876 shares of company stock worth $613,168,252. Company insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in META. S.A. Mason LLC lifted its position in Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN lifted its position in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after acquiring an additional 21 shares in the last quarter. Hanson & Doremus Investment Management lifted its position in Meta Platforms by 5.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after acquiring an additional 22 shares in the last quarter. LongView Wealth Management lifted its position in Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares in the last quarter. Finally, Madison Wealth Partners Inc lifted its holdings in shares of Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after buying an additional 23 shares during the period. 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.