Meta Platforms (NASDAQ:META) Receives Outperform Rating from Royal Bank Of Canada

Meta Platforms (NASDAQ:META)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $810.00 price target on the social networking company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 30.10% from the company’s current price.

A number of other equities analysts also recently commented on META. Argus reiterated a “buy” rating and issued a $800.00 price target on shares of Meta Platforms in a research note on Monday, February 2nd. Stifel Nicolaus cut their price target on Meta Platforms from $805.00 to $780.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Barclays upped their price objective on Meta Platforms from $800.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Rosenblatt Securities restated a “buy” rating and set a $1,015.00 price target on shares of Meta Platforms in a research report on Thursday. Finally, Citizens Jmp reissued a “market outperform” rating and set a $900.00 target price on shares of Meta Platforms in a research note on Tuesday, April 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $840.19.

Meta Platforms Stock Down 1.6%

Shares of NASDAQ META opened at $622.58 on Monday. The firm has a fifty day moving average of $617.84 and a 200-day moving average of $636.92. Meta Platforms has a 52-week low of $520.26 and a 52-week high of $796.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.57 trillion, a PE ratio of 22.93, a P/E/G ratio of 1.12 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.43 EPS. On average, analysts anticipate that Meta Platforms will post 29.35 EPS for the current year.

Insider Buying and Selling

In other news, CTO Andrew Bosworth sold 7,847 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer directly owned 414 shares of the company’s stock, valued at $251,641.62. This trade represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Susan J. Li sold 9,195 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the sale, the chief financial officer owned 13,186 shares of the company’s stock, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 40,890 shares of company stock valued at $25,315,558 over the last ninety days. 13.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Meta Platforms

Institutional investors have recently bought and sold shares of the business. Brighton Jones LLC increased its position in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after purchasing an additional 875 shares during the last quarter. Headwater Capital Co Ltd lifted its stake in shares of Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after purchasing an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in Meta Platforms in the second quarter worth $213,000. Finally, Capital & Planning LLC acquired a new position in Meta Platforms during the second quarter worth $322,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta was named among the top S&P 500 companies for AI adoption in a new study, reinforcing the view that its AI investments are becoming a competitive advantage. Nvidia, Meta and Schlumberger rank among top companies adopting AI, new study says
• Positive Sentiment: Bank of America reiterated a Buy rating and kept an $835 price target, saying AI monetization and enterprise adoption could improve sentiment around Meta’s spending. Can Meta turn AI capacity into a $1 trillion market opportunity?
• Positive Sentiment: Multiple reports highlighted Meta as a top AI pick and suggested it remains attractive to investors looking for AI-driven upside. 3 Top AI Stocks to Buy in June
• Neutral Sentiment: Meta is reportedly developing an AI pendant and broader wearables products, signaling continued hardware experimentation, but the project is still early and unproven. Meta is reportedly developing an AI pendant
• Negative Sentiment: Meta is facing a new group legal action in the U.K. over scam ads on Facebook and Instagram, adding fresh legal and financial risk in a major market. Richardson Hartley Law and Humphries Kerstetter to pursue Meta for role in multi-billion scam ad scandal through group legal action
• Negative Sentiment: European consumer groups also filed Digital Services Act complaints accusing Meta of not doing enough to stop financial scams, which could lead to investigation or penalties. Meta Faces Digital Services Act Scrutiny On Financial Scam Controls
• Negative Sentiment: Meta reportedly plans thousands of additional layoffs, underscoring ongoing restructuring pressure even as it invests heavily in AI. Silicon Valley giant Meta slashes even more jobs as AI boom sparks bloodbath

Meta Platforms Company Profile

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.