Credit Suisse Group Boosts Meta Platforms (NASDAQ:META) Price Target to $407.00

Posted by on Jul 31st, 2023

Meta Platforms (NASDAQ:META – Free Report) had its price objective increased by Credit Suisse Group from $361.00 to $407.00 in a report issued on Thursday, FlyOnTheWall reports.

A number of other research firms have also recently issued reports on META. TD Cowen upgraded shares of Meta Platforms from a market perform rating to an outperform rating and upped their price target for the company from $220.00 to $345.00 in a report on Thursday, July 13th. Morgan Stanley upped their price target on Meta Platforms from $350.00 to $375.00 in a report on Thursday. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $240.00 to $275.00 and gave the stock a buy rating in a research report on Thursday, April 27th. Raymond James raised their price objective on Meta Platforms from $238.00 to $287.00 and gave the stock an outperform rating in a research report on Thursday, April 27th. Finally, Jefferies Financial Group increased their price target on shares of Meta Platforms from $280.00 to $360.00 and gave the stock a buy rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of Moderate Buy and an average price target of $315.65.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $325.48 on Thursday. The stock has a market capitalization of $834.12 billion, a P/E ratio of 37.93, a P/E/G ratio of 1.09 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.32 and a quick ratio of 2.32. The business has a 50-day moving average of $283.56 and a two-hundred day moving average of $225.72. Meta Platforms has a fifty-two week low of $88.09 and a fifty-two week high of $326.20.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 375 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $231.08, for a total value of $86,655.00. Following the sale, the insider now directly owns 27,813 shares in the company, valued at $6,427,028.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 375 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $231.08, for a total transaction of $86,655.00. Following the sale, the insider now directly owns 27,813 shares of the company’s stock, valued at $6,427,028.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Clegg sold 2,146 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $233.81, for a total value of $501,756.26. Following the completion of the sale, the insider now owns 9,931 shares in the company, valued at approximately $2,321,967.11. The disclosure for this sale can be found here. Insiders sold 40,723 shares of company stock valued at $9,884,328 over the last three months. Company insiders own 14.03% of the company’s stock.

Institutional Trading of Meta Platforms

Several institutional investors have recently added to or reduced their stakes in META. Altshuler Shaham Ltd acquired a new stake in Meta Platforms in the second quarter valued at about $30,000. Worth Asset Management LLC raised its holdings in Meta Platforms by 248.6% during the first quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Sageworth Trust Co bought a new position in shares of Meta Platforms in the first quarter valued at $26,000. HBC Financial Services PLLC raised its holdings in shares of Meta Platforms by 2,500.0% in the 1st quarter. HBC Financial Services PLLC now owns 130 shares of the social networking company’s stock worth $28,000 after acquiring an additional 125 shares during the last quarter. Finally, Rise Advisors LLC boosted its position in shares of Meta Platforms by 59.3% during the first quarter. Rise Advisors LLC now owns 137 shares of the social networking company’s stock valued at $29,000 after buying an additional 51 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors.

Meta Platforms Company Profile

(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.

Featured Stories

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.