Meta Platforms Inc (NASDAQ:META) shares traded 2.44% higher at $528.54 on Wall Street last session.
META stock price is now 6.57% away from the 50-day moving average and 20.37% away from the 200-day moving average. The market capitalization of the company currently stands at $1337.11B.
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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, Zuckerberg Mark, Officer bought 16,702 shares of the company’s stock on Aug 13 ’24. The stock was bought for $8,777,531 at an average price of $525.54. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 12 ’24, Officer Zuckerberg Mark bought 16,702 shares of the business’s stock. A total of $8,599,720 was incurred on buying the stock at an average price of $514.89. 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 $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 2.83. According to the stock market information, the enterprise value for the company is $1317020368896, which is based on a 26.98 price-to-earnings ratio, a 1.98 price-to-earnings-growth ratio, and a beta of 1.18. The fifty day moving average price for META is $497.1872 and a two-hundred day moving average price translates $440.23755 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. For the current quarter, analysts expect META to generate $40.11B in revenue.
