Meta Platforms (NASDAQ:META) Given New $510.00 Price Target at Roth Mkm

Meta Platforms (NASDAQ:META) had its price objective raised by stock analysts at Roth Mkm from $500.00 to $510.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the social networking company’s stock. Roth Mkm’s price objective would suggest a potential upside of 17.68% from the company’s previous close.

META has been the subject of a number of other reports. Rosenblatt Securities boosted their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America lifted their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Monday. Tigress Financial lifted their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a report on Friday, February 9th. Finally, Mizuho lifted their price objective on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $512.80.

Meta Platforms Price Performance

Shares of META traded down $60.12 during mid-day trading on Thursday, reaching $433.38. 43,803,629 shares of the stock traded hands, compared to its average volume of 17,654,738. The firm has a fifty day moving average price of $495.93 and a 200 day moving average price of $403.14. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms has a 1 year low of $208.88 and a 1 year high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. As a group, equities research analysts predict that Meta Platforms will post 20.18 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $501.18, for a total value of $245,578.20. Following the completion of the transaction, the chief operating officer now directly owns 7,089 shares of the company’s stock, valued at $3,552,865.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the transaction, the insider now owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $501.18, for a total transaction of $245,578.20. Following the transaction, the chief operating officer now directly owns 7,089 shares of the company’s stock, valued at approximately $3,552,865.02. The disclosure for this sale can be found here. Insiders sold a total of 1,368,244 shares of company stock valued at $657,034,449 over the last three months. Corporate insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. FMR LLC boosted its holdings in Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. Capital World Investors boosted its holdings in Meta Platforms by 2.5% in the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares during the last quarter. Morgan Stanley boosted its holdings in Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after purchasing an additional 1,184,978 shares during the last quarter. Finally, Capital International Investors boosted its holdings in Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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.