Roth Mkm Raises Meta Platforms (NASDAQ:META) Price Target to $510.00

Meta Platforms (NASDAQ:META) had its price target hoisted by research analysts at Roth Mkm from $500.00 to $510.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the social networking company’s stock. Roth Mkm’s target price indicates a potential upside of 15.05% from the stock’s previous close.

A number of other analysts have also weighed in on META. Oppenheimer cut their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday. Stifel Nicolaus boosted their price objective on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Wolfe Research dropped their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI upped their price objective on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, UBS Group lifted their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $509.18.

Meta Platforms Stock Performance

Shares of META opened at $443.29 on Thursday. Meta Platforms has a 12 month low of $229.85 and a 12 month high of $531.49. The stock has a fifty day moving average price of $494.48 and a 200-day moving average price of $404.27. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.13 trillion, a PE ratio of 25.46, a P/E/G ratio of 1.26 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. Equities research analysts predict that Meta Platforms will post 20.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the sale, the insider now owns 37,228 shares in the company, valued at $18,288,255. The disclosure for this sale can be found here. Insiders have sold 1,349,148 shares of company stock worth $649,552,559 over the last three months. Company insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Several large investors have recently modified their holdings of the company. Stone House Investment Management LLC grew its position in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its position in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the period. Quest Partners LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $32,000. PayPay Securities Corp raised its stake in shares of Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Finally, Clear Investment Research LLC grew its position in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

About Meta Platforms

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.