Meta Platforms (NASDAQ:META) Given New $700.00 Price Target at KeyCorp

Meta Platforms (NASDAQ:META) had its price objective increased by KeyCorp from $655.00 to $700.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the social networking company’s stock. KeyCorp’s target price points to a potential upside of 15.54% from the company’s current price.

Other research analysts have also recently issued reports about the company. Robert W. Baird upped their price objective on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.90.

Meta Platforms Stock Down 0.8 %

Meta Platforms stock opened at $605.86 on Friday. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 28.54, a P/E/G ratio of 1.36 and a beta of 1.19. The stock’s fifty day simple moving average is $592.65 and its 200-day simple moving average is $552.16. Meta Platforms has a twelve month low of $358.61 and a twelve month high of $638.40. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts expect that Meta Platforms will post 22.68 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 410,536 shares of company stock worth $249,024,275 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Institutional Trading of Meta Platforms

A number of institutional investors have recently bought and sold shares of META. JDM Financial Group LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the third quarter valued at approximately $36,000. Halpern Financial Inc. bought a new stake in Meta Platforms during the third quarter worth $46,000. West Financial Advisors LLC purchased a new position in Meta Platforms in the third quarter worth $49,000. Finally, Hoese & Co LLP grew its stake in Meta Platforms by 2,000.0% in the 3rd quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock valued at $60,000 after purchasing an additional 100 shares during the period. 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.