Tigress Financial Forecasts Strong Price Appreciation for Meta Platforms (NASDAQ:META) Stock

Meta Platforms (NASDAQ:METAGet Free Report) had its target price hoisted by equities research analysts at Tigress Financial from $935.00 to $945.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the social networking company’s stock. Tigress Financial’s price objective would suggest a potential upside of 52.26% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. BNP Paribas Exane started coverage on Meta Platforms in a research note on Monday, November 24th. They issued an “outperform” rating and a $800.00 price target for the company. Argus reiterated a “buy” rating and issued a $800.00 price objective on shares of Meta Platforms in a report on Monday, February 2nd. Roth Mkm decreased their target price on Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Monday, January 26th. UBS Group reaffirmed a “buy” rating and set a $872.00 price target (up from $830.00) on shares of Meta Platforms in a report on Thursday, January 29th. Finally, Mizuho boosted their price objective on shares of Meta Platforms from $815.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $846.63.

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Meta Platforms Trading Down 0.3%

NASDAQ:META opened at $620.65 on Wednesday. The stock has a market cap of $1.57 trillion, a price-to-earnings ratio of 26.43, a PEG ratio of 0.97 and a beta of 1.30. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average price is $651.86 and its 200-day moving average price is $675.20. Meta Platforms has a 52 week low of $479.80 and a 52 week high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business had revenue of $59.89 billion for the quarter, compared to analysts’ expectations of $58.33 billion. During the same period in the prior year, the firm posted $8.02 EPS. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities research analysts forecast that Meta Platforms will post 26.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 8,089 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $631.24, for a total transaction of $5,106,100.36. Following the completion of the sale, the chief technology officer directly owned 2,841 shares in the company, valued at approximately $1,793,352.84. The trade was a 74.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 2,461 shares of the company’s stock in a transaction that occurred on Sunday, February 15th. The shares were sold at an average price of $639.77, for a total transaction of $1,574,473.97. Following the sale, the chief operating officer directly owned 12,108 shares of the company’s stock, valued at approximately $7,746,335.16. This represents a 16.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 159,830 shares of company stock valued at $102,409,190. 13.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Meta Platforms

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Trust Co of the South raised its position in shares of Meta Platforms by 0.8% during the third quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after buying an additional 14 shares during the last quarter. Sentinel Pension Advisors LLC boosted its position in shares of Meta Platforms by 1.6% during the third quarter. Sentinel Pension Advisors LLC now owns 915 shares of the social networking company’s stock worth $672,000 after acquiring an additional 14 shares during the last quarter. Alpine Bank Wealth Management grew its stake in Meta Platforms by 0.3% during the third quarter. Alpine Bank Wealth Management now owns 4,301 shares of the social networking company’s stock valued at $3,159,000 after acquiring an additional 14 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in Meta Platforms by 3.2% during the third quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock valued at $334,000 after acquiring an additional 14 shares in the last quarter. Finally, First National Bank Sioux Falls increased its holdings in Meta Platforms by 0.7% in the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock valued at $1,321,000 after acquiring an additional 14 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms News Roundup

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About Meta Platforms

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Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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