Meta Platforms (NASDAQ:META) Price Target Raised to $230.00 at Wolfe Research

Meta Platforms (NASDAQ:META – Get Rating) had its price objective increased by Wolfe Research from $220.00 to $230.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Wolfe Research currently has an outperform rating on the social networking company’s stock.

META has been the subject of a number of other reports. Guggenheim raised their price objective on Meta Platforms from $130.00 to $210.00 and gave the stock a buy rating in a research report on Thursday, February 2nd. OTR Global downgraded Meta Platforms to a positive rating in a research report on Wednesday, January 11th. Cowen raised their price objective on Meta Platforms from $135.00 to $175.00 and gave the stock a market perform rating in a research report on Thursday, February 2nd. Roth Capital raised their price objective on Meta Platforms from $125.00 to $210.00 and gave the stock a buy rating in a research report on Thursday, February 2nd. Finally, JMP Securities raised their price objective on Meta Platforms from $150.00 to $210.00 and gave the stock an outperform rating in a research report on Thursday, February 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of Moderate Buy and a consensus target price of $209.27.

Meta Platforms Stock Down 4.5 %

Shares of META opened at $195.61 on Wednesday. Meta Platforms has a 52-week low of $88.09 and a 52-week high of $236.86. The company has a market capitalization of $507.15 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The stock has a fifty day simple moving average of $166.42 and a two-hundred day simple moving average of $140.22. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.08.

Meta Platforms (NASDAQ:META – Get Rating) last issued its earnings results on Wednesday, February 1st. The social networking company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.88. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. The business had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $31.69 billion. During the same period last year, the company earned $3.67 EPS. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, equities analysts forecast that Meta Platforms will post 10.31 EPS for the current year.

Insider Activity

In other news, insider Marne L. Levine sold 23,317 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $191.00, for a total value of $4,453,547.00. Following the transaction, the insider now owns 4,136 shares of the company’s stock, valued at $789,976. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Susan J.S. Taylor sold 1,400 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $172.96, for a total value of $242,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,949 shares in the company, valued at approximately $510,059.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marne L. Levine sold 23,317 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $191.00, for a total transaction of $4,453,547.00. Following the completion of the transaction, the insider now owns 4,136 shares of the company’s stock, valued at approximately $789,976. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,342 shares of company stock valued at $12,285,012. Company insiders own 14.03% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Large investors have recently added to or reduced their stakes in the business. Riverpoint Wealth Management Holdings LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $25,000. Ruedi Wealth Management Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $25,000. MBM Wealth Consultants LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $26,000. NewSquare Capital LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $26,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $26,000. 60.92% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.