Meta Platforms (NASDAQ:META) Price Target Raised to $800.00 at KeyCorp

Meta Platforms (NASDAQ:META) had its target price increased by KeyCorp from $655.00 to $800.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the social networking company’s stock. KeyCorp’s price objective would indicate a potential upside of 13.81% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. TD Securities decreased their target price on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wedbush increased their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Morgan Stanley increased their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Raymond James Financial decreased their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a report on Thursday, May 1st. Finally, Truist Financial raised their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $736.05.

Meta Platforms Price Performance

META opened at $702.91 on Thursday. The firm has a market cap of $1.77 trillion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. Meta Platforms has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The company’s 50-day moving average price is $681.78 and its 200 day moving average price is $636.39. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms will post 26.7 earnings per share for the current year.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,780 shares of company stock worth $105,009,697. 13.61% of the stock is currently owned by company insiders.

Institutional Trading of Meta Platforms

Institutional investors have recently made changes to their positions in the business. Inlight Wealth Management LLC acquired a new position in Meta Platforms in the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Meta Platforms in the first quarter valued at about $28,000. Evergreen Private Wealth LLC boosted its position in Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after buying an additional 38 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Meta Platforms in the first quarter worth about $33,000. Finally, Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $40,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Company Profile

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.