Moffett Nathanson Trims Meta Platforms (NASDAQ:FB) Target Price to $280.00

Meta Platforms (NASDAQ:FBGet Rating) had its price target lowered by Moffett Nathanson to $280.00 in a research note released on Thursday, Stock Target Advisor reports.

A number of other brokerages have also weighed in on FB. Mizuho cut their price objective on Meta Platforms from $425.00 to $325.00 and set a buy rating on the stock in a report on Monday, April 25th. Benchmark started coverage on Meta Platforms in a report on Tuesday, March 1st. They issued a hold rating on the stock. Raymond James cut their price objective on Meta Platforms from $340.00 to $290.00 in a report on Thursday, April 28th. JMP Securities cut their price objective on Meta Platforms from $350.00 to $265.00 and set a market outperform rating on the stock in a report on Tuesday, April 19th. Finally, Royal Bank of Canada cut their price objective on Meta Platforms from $245.00 to $240.00 and set an outperform rating on the stock in a report on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of Buy and an average price target of $312.24.

Meta Platforms stock opened at $195.13 on Thursday. The stock has a 50-day moving average of $206.41 and a two-hundred day moving average of $258.79. Meta Platforms has a one year low of $169.00 and a one year high of $384.33. The stock has a market cap of $528.08 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.37.

Meta Platforms (NASDAQ:FBGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.18. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. The company had revenue of $27.91 billion during the quarter, compared to analysts’ expectations of $28.21 billion. During the same period last year, the business posted $3.30 earnings per share. Equities research analysts predict that Meta Platforms will post 11.6 EPS for the current fiscal year.

In related news, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $233.92, for a total transaction of $111,345.92. Following the transaction, the insider now owns 14,402 shares in the company, valued at $3,368,915.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO David M. Wehner sold 1,222 shares of Meta Platforms stock in a transaction that occurred on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total value of $242,713.64. Following the transaction, the chief financial officer now owns 12,247 shares in the company, valued at approximately $2,432,499.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,100 shares of company stock worth $9,279,275. Company insiders own 13.59% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Autus Asset Management LLC increased its stake in Meta Platforms by 5.4% during the fourth quarter. Autus Asset Management LLC now owns 643 shares of the social networking company’s stock worth $217,000 after acquiring an additional 33 shares during the last quarter. Well Done LLC increased its stake in Meta Platforms by 1.9% during the fourth quarter. Well Done LLC now owns 1,829 shares of the social networking company’s stock worth $615,000 after acquiring an additional 34 shares during the last quarter. JGP Wealth Management LLC increased its stake in Meta Platforms by 1.9% during the fourth quarter. JGP Wealth Management LLC now owns 1,903 shares of the social networking company’s stock worth $617,000 after acquiring an additional 36 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Meta Platforms by 0.8% during the third quarter. Segall Bryant & Hamill LLC now owns 4,993 shares of the social networking company’s stock worth $1,694,000 after acquiring an additional 40 shares during the last quarter. Finally, TruWealth Advisors LLC increased its stake in Meta Platforms by 2.8% during the fourth quarter. TruWealth Advisors LLC now owns 1,465 shares of the social networking company’s stock worth $493,000 after acquiring an additional 40 shares during the last quarter. 65.49% of the stock is owned by institutional investors.

About Meta Platforms (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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