UBS Group Lowers Meta Platforms (NASDAQ:META) Price Target to $650.00

by · The Cerbat Gem

Meta Platforms (NASDAQ:META – Get Free Report) had its target price cut by equities research analysts at UBS Group from $786.00 to $650.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the social networking company’s stock. UBS Group’s price target suggests a potential upside of 21.70% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Raymond James reiterated a “strong-buy” rating and set a $800.00 price target (up from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Argus set a $775.00 target price on Meta Platforms in a report on Tuesday, February 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $790.00 price target on shares of Meta Platforms in a research note on Wednesday, April 2nd. Scotiabank lifted their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Finally, Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $701.38.

View Our Latest Report on Meta Platforms

Meta Platforms Stock Down 2.2 %

Shares of NASDAQ META traded down $12.19 during mid-day trading on Friday, reaching $534.11. The company had a trading volume of 5,977,305 shares, compared to its average volume of 14,703,361. The company has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a fifty day moving average of $631.56 and a two-hundred day moving average of $609.28. Meta Platforms has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the firm earned $5.33 EPS. As a group, equities research analysts expect that Meta Platforms will post 26.7 EPS for the current year.

Insider Buying and Selling

In related news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $606.77, for a total value of $250,596.01. Following the completion of the sale, the chief operating officer now directly owns 16,688 shares in the company, valued at approximately $10,125,777.76. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $543.39, for a total value of $500,462.19. Following the transaction, the insider now directly owns 29,340 shares in the company, valued at approximately $15,943,062.60. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,453 shares of company stock worth $326,680,904. Corporate insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Large investors have recently added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $40,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the fourth quarter worth approximately $41,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $45,000. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms during the 4th quarter worth approximately $47,000. Institutional investors own 79.91% of the company’s stock.

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.

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