Wall Street brokers expect Meta Platforms Inc. (NASDAQ: FB) to report $ 33.00 billion in revenue for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have estimated the earnings of Meta Platforms. The highest sales estimate is $ 33.62 billion and the lowest is $ 32.75 billion. Meta Platforms recorded sales of $ 28.07 billion in the same quarter of last year, suggesting a positive growth rate of 17.6% year-over-year. The company is expected to release its next quarterly results on Wednesday, January 26.
According to Zacks, analysts expect Meta Platforms to report annual revenue of $ 117.74 billion for the current fiscal year, with estimates ranging from $ 117.01 billion to $ 120.00 billion. of dollars. For the next fiscal year, analysts predict the company will post revenue of $ 140.07 billion, with estimates ranging from $ 135.83 billion to $ 148.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sales analysts who follow Meta Platforms.
Meta Platforms (NASDAQ: FB) last released its quarterly results on Sunday, October 24. The social networking company reported earnings of $ 3.22 per share for the quarter, beating the Zacks’ consensus estimate of $ 3.19 by $ 0.03. Meta Platforms recorded a return on equity of 30.22% and a net margin of 35.88%. The company posted revenue of $ 29.01 billion in the quarter, compared to analysts’ estimates of $ 29.52 billion. In the same quarter of last year, the company posted EPS of $ 2.71. Meta Platforms revenue for the quarter increased 35.1% year-on-year.
A number of equity research analysts have commented on FB stocks. Monness Crespi & Hardt lowered its price target on Meta platforms from $ 500.00 to $ 460.00 and set a âbuyâ rating for the company in a research report released on Tuesday, October 26. Rosenblatt Securities downgraded Meta Platforms from a âneutralâ rating to a âbuyâ rating and set a price target of $ 400.00 for the company in a research note on Tuesday, October 26. The Goldman Sachs group set a price target of $ 445.00 on Meta platforms in a research note on Tuesday, October 26. Evercore ISI reaffirmed a “buy” note and set a price target of $ 430.00 for shares of Meta Platforms in a research note on Sunday, October 31. Finally, Wells Fargo & Company lowered its price target on Meta platforms from $ 450.00 to $ 425.00 and set an “overweight” rating for the company in a Tuesday October 26th research note. Eight research analysts rated the stock with a conservation rating, thirty-two assigned a buy rating, and two issued a strong buy rating for the company’s stock. According to MarketBeat, the stock currently has a consensus rating of âBuyâ and a consensus target price of $ 398.21.
Separately, insider Jennifer Newstead sold 125 shares of the company in a transaction on Tuesday, October 5. The stock was sold for an average price of $ 328.69, for a total trade of $ 41,086.25. The transaction was disclosed in a file with the Securities & Exchange Commission, accessible through this link. Additionally, CFO David M. Wehner sold 8,176 shares of the company in a trade on Wednesday, November 17. The stock was sold for an average price of $ 344.22, for a total value of $ 2,814,342.72. Disclosure of this sale can be found here. In the past three months, insiders have sold 953,783 shares of the company valued at $ 315,874,761. Insiders hold 14.01% of the shares of the company.
A number of hedge funds and other institutional investors have recently increased or reduced their holdings in FB. Capital Directions Investment Advisors LLC acquired a new position in Meta Platforms in the second quarter, valued at approximately $ 31,000. Carderock Capital Management Inc. acquired a new position in Meta Platforms in the third quarter valued at approximately $ 31,000. Benjamin Edwards Inc. acquired a new position in Meta Platforms in the third quarter valued at approximately $ 33,000. Lion Street Advisors LLC acquired a new position in Meta Platforms in the second quarter, valued at approximately $ 43,000. Finally, Filbrandt Wealth Management LLC acquired a new position in Meta Platforms in the third quarter, valued at approximately $ 43,000. Institutional investors and hedge funds hold 65.74% of the company’s shares.
NASDAQ FB shares opened at $ 336.35 on Monday. Meta Platforms has a one-year minimum of $ 244.61 and a one-year maximum of $ 384.33. The company has a market cap of $ 935.64 billion, a PE ratio of 24.01, a PEG ratio of 1.19 and a beta of 1.29. The company has a 50-day moving average price of $ 332.38 and a 200-day moving average price of $ 345.94.
Meta Platforms, Inc (formerly Facebook, Inc) is a global social technology company. The company is dedicated to the development of social media applications as well as virtual and augmented reality products that allow users to connect through mobile devices, personal computers and other platforms.
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