Stocks of Meta Platforms Inc (NASDAQ:META) traded higher last session on Wall Street, up 0.90% to $504.79.
META stock price is now -0.05% away from the 50-day moving average and 10.30% away from the 200-day moving average. The market capitalization of the company currently stands at $1277.03B.
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 of $660, Cantor Fitzgerald recently initiated with Overweight rating for Meta Platforms Inc (NASDAQ: META). On August 01, 2024, BofA Securities reiterated its ‘Buy’ rating on the stock by increasing its target price from $550 to quote $563, while ‘Oppenheimer’ rates the stock as ‘Outperform’
In other news, Olivan Javier, Officer bought 413 shares of the company’s stock on Sep 06 ’24. The stock was bought for $215,586 at an average price of $522.00. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 03 ’24, Chief Legal Officer Newstead Jennifer sold 905 shares of the business’s stock. A total of $470,600 was realized by selling the stock at an average price of $520.00. This leaves the insider owning 38,722 shares of the company worth $19.55 million. A total of 13.79% 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 $1256937226240, which is based on a 25.77 price-to-earnings ratio, a 1.90 price-to-earnings-growth ratio, and a beta of 1.21. The fifty day moving average price for META is $504.734 and a two-hundred day moving average price translates $458.47806 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 $40.13B in revenue.
