Meta Platforms Inc (NASDAQ:META) shares traded -0.65% lower at $468.84 on Wall Street last session.
META stock price is now -3.66% away from the 50-day moving average and 21.96% away from the 200-day moving average. The market capitalization of the company currently stands at $1189.23B.
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With the price target of $360, Exane BNP Paribas recently initiated with Underperform rating for Meta Platforms Inc (NASDAQ: META). On April 25, 2024, Oppenheimer reiterated its ‘Outperform’ rating on the stock by increasing its target price from $585 to quote $500, while ‘Citigroup’ rates the stock as ‘Buy’
In other news, LI SUSAN J, Chief Financial Officer sold 18,643 shares of the company’s stock on May 16 ’24. The stock was sold for $8,868,744 at an average price of $475.71. Upon completion of the transaction, the Chief Financial Officer now directly owns 69,757 shares in the company, valued at $32.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 16 ’24, Chief Technology Officer Bosworth Andrew sold 14,745 shares of the business’s stock. A total of $7,015,082 was realized by selling the stock at an average price of $475.76. This leaves the insider owning 6,848 shares of the company worth $3.21 million. A total of 13.79% of the company’s stock is owned by insiders.
During the past 12 months, Meta Platforms Inc has had a low of $241.19 and a high of $531.49. As of last week, the company has a debt-to-equity ratio of 0.25, a current ratio of 2.68, and a quick ratio of 2.68. According to the stock market information, the enterprise value for the company is $1168741629952, which is based on a 26.93 price-to-earnings ratio, a 0.90 price-to-earnings-growth ratio, and a beta of 1.21. The fifty day moving average price for META is $485.924 and a two-hundred day moving average price translates $385.21286 for the stock.
The latest earnings results from Meta Platforms Inc (NASDAQ: META) was released for 2024-03-31. According to the Internet Content & Information Company, earnings per share came in at 2.98, beating analysts’ expectations of 2.91 by 0.07. This compares to $2.20 EPS in the same period last year. The net profit margin was 32.06% and return on equity was 33.36% for META. The company reported revenue of $36.45 billion for the quarter, compared to $28.64 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 27.26 percent. For the current quarter, analysts expect META to generate $35.03B in revenue.
