Home Networking company Meta Platforms Inc. (NASDAQ:FB) Receives Consensus “Buy” Rating from Analysts

Meta Platforms Inc. (NASDAQ:FB) Receives Consensus “Buy” Rating from Analysts

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Meta Platforms Inc. (NASDAQ:FB) received a consensus “Buy” rating from the forty-two research firms that currently cover the stock, MarketBeat.com reports. Eight investment analysts gave the stock a hold rating, twenty-nine gave the company a buy rating and two gave the company a high buy rating. The 1-year average price target among brokers who have reported on the stock in the past year is $402.00.

Several research companies recently commented on FB. Goldman Sachs Group set a price target of $445.00 on meta platforms in a research note on Tuesday, October 26. Credit Suisse Group lowered its Meta Platforms price target from $500.00 to $430.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 26. Zacks Investment Research downgraded Meta Platforms from a “buy” rating to a “hold” rating and set a target price of $409.00 for the stock. in a research report on Wednesday, September 29. Barclays lowered its price target on the Meta Platforms from $430.00 to $420.00 and set an “overweight” rating on the stock in a Tuesday, October 26 research report. Finally, UBS Group began covering meta platforms in a research report on Thursday, December 2. They set a “buy” rating and a target price of $425.00 on the stock.

Shares on NASDAQ FB traded at $5.42 in Friday’s midday session, hitting $331.90. The company’s shares had a trading volume of 16,853,821 shares, compared to its average trading volume of 16,865,416. Meta Platforms has a 12-month low of $247.16 and a 12-month high of 384 $.33. The company has a 50-day moving average price of $333.46 and a 200-day moving average price of $345.25. The stock has a market capitalization of $923.27 billion, a P/E ratio of 23.69, a PEG ratio of 1.18 and a beta of 1.29.

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Meta Platforms Inc (NASDAQ:FB) last announced its results on Sunday, October 24. The social networking company reported earnings per share of $3.22 for the quarter, beating analyst consensus estimates of $3.19 by $0.03. Meta Platforms had a return on equity of 30.22% and a net margin of 35.88%. The company posted revenue of $29.01 billion for the quarter, versus a consensus estimate of $29.52 billion. In the same quarter of the previous year, the company achieved EPS of $2.71. The company’s revenue increased by 35.1% compared to the same quarter last year. On average, stock analysts expect Meta Platforms to post EPS of 13.91 for the current fiscal year.

In other Meta Platforms news, CEO Mark Zuckerberg sold 77,300 shares of the company in a trade dated Monday, October 18. The shares were sold at an average price of $333.02, for a total value of $25,742,446.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, insider Jennifer Newstead sold 250 shares of the company in a trade dated Tuesday, January 11. The stock was sold at an average price of $328.72, for a total transaction of $82,180.00. The disclosure of this sale can be found here. During the last quarter, insiders sold 693,940 shares of the company valued at $230,432,836. 14.01% of the shares are currently held by insiders of the company.

Hedge funds and other institutional investors have recently changed their positions in the company. Asset Management Corp IL ADV increased its stake in shares of Meta Platforms by 3.1% during the third quarter. Asset Management Corp IL ADV now owns 11,688 shares of the social networking company valued at $3,967,000 after buying 354 additional shares last quarter. Oribel Capital Management LP increased its stake in shares of Meta Platforms by 20.4% during the second quarter. Oribel Capital Management LP now owns 81,600 shares of the social networking company valued at $28,374,000 after buying an additional 13,800 shares last quarter. Chilton Capital Management LLC increased its position in Meta Platforms shares by 1.0% during the third quarter. Chilton Capital Management LLC now owns 108,192 shares of the social networking company valued at $36,719,000 after acquiring 1,119 additional shares last quarter. Palladium Partners LLC increased its position in Meta Platforms shares by 2.6% during the third quarter. Palladium Partners LLC now owns 76,811 shares of the social networking company valued at $26,069,000 after acquiring an additional 1,934 shares last quarter. Finally, WBI Investments Inc. purchased a new stake in Meta Platforms stock during the second quarter valued at approximately $7,399,000. 65.55% of the shares are held by institutional investors and hedge funds.

Meta Platforms Company Profile

Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The Company engages in 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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Analyst recommendations for meta platforms (NASDAQ: FB)

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