Meta Platforms (NASDAQ:META) Stock Price Expected to Rise, Susquehanna Analyst Says

by · The Cerbat Gem

Meta Platforms (NASDAQ:META – Get Free Report) had its target price hoisted by equities researchers at Susquehanna from $600.00 to $675.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “positive” rating on the social networking company’s stock. Susquehanna’s price objective suggests a potential upside of 19.01% from the company’s previous close.

A number of other research analysts have also commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a research report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Loop Capital upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Guggenheim upped their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, Citigroup upped their price objective on shares of Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $634.10.

Check Out Our Latest Research Report on Meta Platforms

Meta Platforms Stock Down 0.1 %

META stock opened at $567.16 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms has a 52-week low of $308.33 and a 52-week high of $602.95. The company has a 50-day moving average of $555.99 and a two-hundred day moving average of $513.03. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22.

Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities research analysts anticipate that Meta Platforms will post 21.47 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 6,534 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total value of $3,299,931.36. Following the transaction, the chief executive officer now directly owns 116,108 shares of the company’s stock, valued at approximately $58,639,184.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 6,534 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $505.04, for a total value of $3,299,931.36. Following the sale, the chief executive officer now directly owns 116,108 shares in the company, valued at approximately $58,639,184.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the sale, the insider now owns 31,482 shares in the company, valued at approximately $18,262,708.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,993 shares of company stock valued at $133,271,982. 13.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Meta Platforms

Several hedge funds have recently bought and sold shares of the company. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the period. Finally, Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth $46,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

About Meta Platforms

(Get Free Report)

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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