Meta Platforms (NASDAQ:META) Stock Rating Reaffirmed by Royal Bank of Canada

Posted by Defense World Staff on Apr 25th, 2023

Royal Bank of Canada reissued their outperform rating on shares of Meta Platforms (NASDAQ:META – Get Rating) in a research note published on Friday morning, Benzinga reports. They currently have a $225.00 price objective on the social networking company’s stock.

Several other brokerages have also weighed in on META. Bank of America increased their price objective on shares of Meta Platforms from $230.00 to $250.00 and gave the stock a buy rating in a report on Tuesday, April 18th. Citigroup boosted their price objective on shares of Meta Platforms from $228.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, March 15th. Raymond James increased their target price on Meta Platforms from $220.00 to $238.00 and gave the stock an outperform rating in a research report on Tuesday, March 14th. Evercore ISI boosted their price target on Meta Platforms from $275.00 to $305.00 and gave the company an outperform rating in a research report on Tuesday, March 14th. Finally, Arete Research restated a sell rating on shares of Meta Platforms in a report on Monday, March 6th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of Moderate Buy and an average price target of $221.39.

Meta Platforms Stock Down 0.0 %

META stock opened at $212.79 on Friday. The company has a 50 day moving average price of $196.26 and a two-hundred day moving average price of $151.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.20 and a current ratio of 2.20. The stock has a market capitalization of $551.69 billion, a P/E ratio of 24.80, a PEG ratio of 1.95 and a beta of 1.19. Meta Platforms has a one year low of $88.09 and a one year high of $224.30.

Meta Platforms (NASDAQ:META – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The social networking company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.88. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. The business had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $31.69 billion. During the same quarter in the previous year, the business earned $3.67 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms will post 10.24 EPS for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $148.00, for a total value of $50,616.00. Following the completion of the transaction, the insider now directly owns 24,109 shares in the company, valued at $3,568,132. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $148.00, for a total transaction of $50,616.00. Following the completion of the transaction, the insider now owns 24,109 shares of the company’s stock, valued at $3,568,132. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Marne L. Levine sold 23,317 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $191.00, for a total transaction of $4,453,547.00. Following the transaction, the insider now owns 4,136 shares of the company’s stock, valued at approximately $789,976. The disclosure for this sale can be found here. Insiders sold a total of 68,597 shares of company stock valued at $12,483,981 in the last quarter. Insiders own 14.03% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

A number of hedge funds have recently made changes to their positions in the business. Riverpoint Wealth Management Holdings LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $25,000. Ruedi Wealth Management Inc. acquired a new position in Meta Platforms during the 4th quarter valued at about $25,000. NewSquare Capital LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth about $26,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Meta Platforms in the 4th quarter worth approximately $26,000. Finally, Worth Asset Management LLC boosted its holdings in shares of Meta Platforms by 248.6% in the first quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 60.92% of the company’s stock.

Meta Platforms Company Profile

(Get Rating)

Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.

Analyst Recommendations for Meta Platforms (NASDAQ:META)

Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.