Meta Platforms (NASDAQ:META – Get Free Report) had its price objective lifted by equities researchers at Roth Capital from $620.00 to $740.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the social networking company’s stock. Roth Capital’s price target would indicate a potential upside of 2.73% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Bank of America upped their price target on Meta Platforms from $690.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. The Goldman Sachs Group upped their price target on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Cantor Fitzgerald upped their price target on Meta Platforms from $676.00 to $807.00 and gave the company an “overweight” rating in a research report on Wednesday, June 18th. Needham & Company LLC upgraded Meta Platforms from an “underperform” rating to a “hold” rating in a research report on Thursday, July 3rd. Finally, Susquehanna dropped their price target on Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $724.98.

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Read Our Latest Analysis on META

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $2.00 during mid-day trading on Tuesday, reaching $720.35. 4,537,148 shares of the stock traded hands, compared to its average volume of 14,485,308. The business has a 50-day moving average of $662.26 and a 200 day moving average of $631.21. Meta Platforms has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The stock has a market capitalization of $1.81 trillion, a PE ratio of 28.09, a PEG ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year. On average, analysts predict that Meta Platforms will post 26.7 EPS for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total transaction of $382,503.00. Following the completion of the transaction, the insider owned 27,626 shares in the company, valued at approximately $20,360,362. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,756 shares of company stock valued at $104,720,878 in the last three months. 13.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Valley Financial Group Inc. increased its stake in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC increased its stake in shares of Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after acquiring an additional 14 shares during the period. Maiden Cove Capital LLC increased its stake in shares of Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares during the period. Riverwater Partners LLC increased its stake in shares of Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock worth $335,000 after acquiring an additional 15 shares during the period. Finally, ABLE Financial Group LLC increased its stake in shares of Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock worth $1,251,000 after acquiring an additional 15 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

About Meta Platforms

(Get Free Report)

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.

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