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Meta Platforms (FB) Received its Third Buy in a Row

After Jefferies and UBS gave Meta Platforms (NASDAQ: FB) a Buy rating last month, the company received another Buy, this time from J.P. Morgan. Analyst Doug Anmuth maintained a Buy rating on Meta Platforms yesterday and set a price target of $385.00. The company’s shares closed last Friday at $331.90.

According to TipRanks.com, Anmuth is a 5-star analyst with an average return of 22.6% and a 62.9% success rate. Anmuth covers the Technology sector, focusing on stocks such as Spotify Technology SA, Fiverr International, and Uber Technologies.

Currently, the analyst consensus on Meta Platforms is a Strong Buy with an average price target of $406.75, which is a 26.4% upside from current levels. In a report issued on January 7, Jefferies also maintained a Buy rating on the stock with a $420.00 price target.

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Meta Platforms’ market cap is currently $923.3B and has a P/E ratio of 23.70.

Based on the recent corporate insider activity of 290 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FB in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Social networking company Facebook, Inc. develops applications that enable people to connect through mobile devices, personal computers, and other devices. The firm’s products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. Its revenue comes primarily from advertising. The company was founded by Mark Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004 and is headquartered in Menlo Park+D9, CA.

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