Meta Platforms Inc (NASDAQ:META) shares traded 0.49% higher at $506.63 on Wall Street last session.
META stock price is now 5.25% away from the 50-day moving average and 26.00% away from the 200-day moving average. The market capitalization of the company currently stands at $1285.09B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target maintained at $450, BMO Capital Markets maintained Market Perform rating for Meta Platforms Inc (NASDAQ: META). On May 02, 2024, Exane BNP Paribas recently initiated its ‘Underperform’ rating on the stock quoting a target price of $360, while ‘Oppenheimer’ rates the stock as ‘Outperform’
In other news, Zuckerberg Mark, COB and CEO sold 16,702 shares of the company’s stock on Jun 14 ’24. The stock was sold for $8,406,859 at an average price of $503.34. Upon completion of the transaction, the COB and CEO now directly owns 275,297 shares in the company, valued at $139.47 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13 ’24, COB and CEO Zuckerberg Mark sold 16,702 shares of the business’s stock. A total of $8,430,543 was realized by selling the stock at an average price of $504.76. This leaves the insider owning 284,024 shares of the company worth $143.9 million. A total of 13.78% of the company’s stock is owned by insiders.
During the past 12 months, Meta Platforms Inc has had a low of $271.42 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 $1264597336064, which is based on a 29.10 price-to-earnings ratio, a 0.97 price-to-earnings-growth ratio, and a beta of 1.21. The fifty day moving average price for META is $480.9568 and a two-hundred day moving average price translates $403.13284 for the stock.
The latest earnings results from Meta Platforms Inc (NASDAQ: META) was released for 2024-03-31. 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.
