In yesterday’s Wall Street session, Meta Platforms Inc (NASDAQ:META) shares traded at $487.40, up 2.23% from the previous session.
META stock price is now -0.96% away from the 50-day moving average and 14.53% away from the 200-day moving average. The market capitalization of the company currently stands at $1236.31B.
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With the price target enhanced from $500 to $525, Oppenheimer maintained Outperform rating for Meta Platforms Inc (NASDAQ: META). On July 16, 2024, Wolfe Research recently initiated its ‘Outperform’ rating on the stock quoting a target price of $620, while ‘TD Cowen’ rates the stock as ‘Buy’
In other news, Olivan Javier, Chief Operating Officer sold 412 shares of the company’s stock on Jul 18 ’24. The stock was sold for $195,642 at an average price of $474.86. Upon completion of the transaction, the Chief Operating Officer now directly owns 5,971 shares in the company, valued at $2.91 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 16 ’24, COB and CEO Zuckerberg Mark sold 1,712 shares of the business’s stock. A total of $859,892 was realized by selling the stock at an average price of $502.27. This leaves the insider owning 129,888 shares of the company worth $63.31 million. A total of 13.76% of the company’s stock is owned by insiders.
During the past 12 months, Meta Platforms Inc has had a low of $274.38 and a high of $542.81. 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 $1215819808768, which is based on a 28.00 price-to-earnings ratio, a 0.93 price-to-earnings-growth ratio, and a beta of 1.21. The fifty day moving average price for META is $493.7932 and a two-hundred day moving average price translates $431.5831 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.
