Mizuho Increases Meta Platforms (NASDAQ:META) Price Target to $650.00

Meta Platforms (NASDAQ:META) had its price target lifted by investment analysts at Mizuho from $600.00 to $650.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the social networking company’s stock. Mizuho’s price target would indicate a potential upside of 12.76% from the company’s current price.

Several other brokerages have also weighed in on META. Robert W. Baird lifted their price objective on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Pivotal Research started coverage on shares of Meta Platforms in a research note on Tuesday, October 1st. They issued a “buy” rating and a $780.00 target price for the company. Bank of America boosted their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a research report on Wednesday. Finally, Wedbush reissued an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $617.37.

Meta Platforms Trading Down 0.1 %

Shares of Meta Platforms stock opened at $576.47 on Thursday. The stock has a fifty day moving average price of $546.53 and a 200-day moving average price of $508.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market cap of $1.46 trillion, a PE ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms has a 1 year low of $279.40 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter last year, the business posted $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms will post 21.37 EPS for the current year.

Insider Activity

In related news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,816 shares of company stock valued at $132,421,828. Corporate insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms in the 1st quarter worth about $44,000. 79.91% of the stock is currently owned by institutional investors.

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.