Meta Platforms Inc (NASDAQ:META) shares traded -0.39% lower at $519.10 on Wall Street last session.
META stock price is now 3.14% away from the 50-day moving average and 15.29% away from the 200-day moving average. The market capitalization of the company currently stands at $1313.23B.
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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, Olivan Javier, Chief Operating Officer sold 413 shares of the company’s stock on Aug 23 ’24. The stock was sold for $221,748 at an average price of $536.92. Upon completion of the transaction, the Chief Operating Officer now directly owns 14,424 shares in the company, valued at $7.49 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 27 ’24, Officer LI SUSAN J bought 33,018 shares of the business’s stock. A total of $17,101,306 was incurred on buying the stock at an average price of $517.94. A total of 13.80% of the company’s stock is owned by insiders.
During the past 12 months, Meta Platforms Inc has had a low of $279.40 and a high of $544.23. 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 $1293138919424, which is based on a 26.50 price-to-earnings ratio, a 1.95 price-to-earnings-growth ratio, and a beta of 1.21. The fifty day moving average price for META is $503.5752 and a two-hundred day moving average price translates $451.24805 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.
