Stocks of Meta Platforms Inc (NASDAQ:META) traded higher last session on Wall Street, down -2.54% to $475.73.
META stock price is now -3.42% away from the 50-day moving average and 9.73% away from the 200-day moving average. The market capitalization of the company currently stands at $1206.67B.
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With the price target enhanced from $550 to $563, BofA Securities maintained Buy rating for Meta Platforms Inc (NASDAQ: META). On July 19, 2024, Oppenheimer reiterated its ‘Outperform’ rating on the stock by increasing its target price from $500 to quote $525, while ‘Wolfe Research’ rates the stock as ‘Outperform’
In other news, Newstead Jennifer, Officer bought 901 shares of the company’s stock on Aug 05 ’24. The stock was bought for $406,488 at an average price of $451.15. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02 ’24, Officer Zuckerberg Mark bought 150 shares of the business’s stock. A total of $75,074 was incurred on buying the stock at an average price of $500.49. 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 0.24, a current ratio of 2.83, and a quick ratio of 2.68. According to the stock market information, the enterprise value for the company is $1183420776448, which is based on a 24.29 price-to-earnings ratio, a 1.79 price-to-earnings-growth ratio, and a beta of 1.19. The fifty day moving average price for META is $492.7324 and a two-hundred day moving average price translates $434.28564 for the stock.
The latest earnings results from Meta Platforms Inc (NASDAQ: META) was released for 2024-06-30. The net profit margin was 34.34% and return on equity was 35.37% for META. The company reported revenue of $39.07 billion for the quarter, compared to $32.0 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 22.1 percent.
