At the time of writing, Meta Platforms Inc [META] stock is trading at $527.34, up 3.21%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The META shares have gain 8.60% over the last week, with a monthly amount glided 6.30%, and seem to be holding up well over a long-time horizon.
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On 1, April 2024, Meta to Announce First Quarter 2024 Results. In a post published today on Yahoo Finance, Meta Platforms, Inc. (NASDAQ: META) announced today that the company’s first quarter 2024 financial results will be released after market close on Wednesday, April 24, 2024.
From an analyst’s perspective:
Meta Platforms Inc [NASDAQ: META] stock has seen the most recent analyst activity on April 04, 2024, when Jefferies reiterated its Buy rating and also boosted its price target to $585 from $550. Previously, Wolfe Research reaffirmed its Outperform rating on February 02, 2024, and elevated its price target to $530. On February 02, 2024, Wells Fargo reiterated its Overweight rating and revised its price target to $536 on the stock. Wedbush reiterated its Outperform rating and increased its price target to $520 on February 02, 2024. UBS reiterated its recommendation of a Buy and raised its price target to $530 on February 02, 2024. TD Cowen reiterated a Outperform rating for this stock on February 02, 2024, and upped its price target to $500. In a note dated February 02, 2024, Susquehanna reiterated an Positive rating on this stock and boosted its target price from $400 to $550.
For the past year, the stock price of Meta Platforms Inc fluctuated between $207.13 and $530.00. Currently, Wall Street analysts expect the stock to reach $311.53 within the next 12 months. Meta Platforms Inc [NASDAQ: META] shares were valued at $527.34 at the most recent close of the market. An investor can expect a potential drop of -40.92% based on the average META price forecast.
Analyzing the META fundamentals
According to Meta Platforms Inc [NASDAQ:META], the company’s sales were 134.90B for trailing twelve months, which represents an 24.70% jump. Gross Profit Margin for this corporation currently stands at 0.81% with Operating Profit Margin at 0.35%, Pretax Profit Margin comes in at 0.35%, and Net Profit Margin reading is 0.29%. To continue investigating profitability, this company’s Return on Assets is posted at 0.17, Equity is 0.28 and Total Capital is 0.24. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.24.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 517.60 points at the first support level, and at 507.86 for the second support level. However, for the 1st resistance point, the stock is sitting at 533.89, and for the 2nd resistance point, it is at 540.44.
Meta Platforms Inc [META] reported earnings per share of $5.33 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $4.96/share, meaning a difference of $0.37 and a surprise factor of 7.50%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $4 per share as compared to estimates of $3.31 per share, a difference of $0.69 representing a surprise of 20.80%.
Ratios To Look Out For
It is important to note that Meta Platforms Inc [NASDAQ:META] has a current ratio of 2.67. As well, the Quick Ratio is 2.67, while the Cash Ratio is 1.31. Considering the valuation of this stock, the price to sales ratio is 9.97, the price to book ratio is 8.82 and price to earnings (TTM) ratio is 35.40.
Transactions by insiders
Recent insider trading involved Newstead Jennifer, Chief Legal Officer, that happened on Apr 02 ’24 when 585.0 shares were sold. COB and CEO, Zuckerberg Mark completed a deal on Apr 01 ’24 to sell 31465.0 shares. Meanwhile, Chief Operating Officer Olivan Javier sold 490.0 shares on Apr 01 ’24.
