Meta’s Strong “Buy Rating” Holds as Analysts Set $638 Target for 2025
December 26, 2024
Fo Meta Platforms (META, Financial), there is still substantial analyst consensus, with an average rating of 2.9 and a “Strong Buy” score from 43 rating firms. Most analysts are still bullish on the stock, but two have given sell ratings, and four have issued hold ratings. Meta gets a buy rating from 35 analysts and a strong buy rating from two. Meta’s stock is in the midst of significant growth potential, as the consensus 12-month price target stands at $638.
Severe optimism regarding the social media giant has been furthered in recent reports from a number of research firms. Monness Crespi & Hardt raised its price target for Meta to $660 from $620 and maintained its buy rating on October 31. Like, Roth Mkm bumped them up to $635, while Sanford C. Bernstein increased their target to $600 and $675. For instance, on December 18, Meta’s price target was boosted to $725 from $660 by JPMorgan Chase & Co, which said it saw enough ‘strength’ to leave an ‘overweight rating’ in place.
Although such projections are positive, some insider activity has sparked some eyebrows. Meta’s General Counsel Jennifer Newstead sold 905 shares in October for more than $500,000 and Vice President Nicholas Clegg sold 7,296 shares in November. Insiders have been selling $175 million of stock across the past three months, the latest of a stream that decreased the proportion of stock insiders own a bit.
While Meta’s stock is still a main player in the tech sector, growing with a helping hand from its analyst backer and strategic investments, insider selling could concern some investors.
This article first appeared on GuruFocus.
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