Meta Platforms (NASDAQ:META) Given New $800.00 Price Target at Royal Bank of Canada

Meta Platforms (NASDAQ:META) had its price objective increased by equities research analysts at Royal Bank of Canada from $700.00 to $800.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the social networking company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 16.08% from the stock’s current price.

Several other research analysts have also commented on the stock. Robert W. Baird lifted their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Susquehanna raised their price target on Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday. Arete Research upgraded Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Finally, Truist Financial raised their target price on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $706.76.

Meta Platforms Price Performance

META opened at $689.18 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms has a 1-year low of $387.10 and a 1-year high of $710.79. The company has a 50-day moving average of $613.60 and a 200-day moving average of $565.78. The company has a market capitalization of $1.74 trillion, a P/E ratio of 28.81, a PEG ratio of 1.35 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 39.74% and a net margin of 37.91%. During the same quarter in the previous year, the company earned $5.33 EPS. Equities analysts expect that Meta Platforms will post 25.44 EPS for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 661,804 shares of company stock worth $407,745,741. 13.71% of the stock is currently owned by company insiders.

Institutional Trading of Meta Platforms

Large investors have recently added to or reduced their stakes in the business. Seelaus Asset Management LLC raised its holdings in Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares in the last quarter. Meredith Wealth Planning raised its stake in shares of Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares in the last quarter. Stephens Consulting LLC lifted its holdings in Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after purchasing an additional 16 shares during the last quarter. VeraBank N.A. boosted its position in Meta Platforms by 0.8% during the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock worth $1,144,000 after purchasing an additional 16 shares during the period. Finally, Lindenwold Advisors INC grew its holdings in Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

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.