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Meta Platforms (FB) Receives a Hold from Needham

In a report released today, Laura Martin from Needham maintained a Hold rating on Meta Platforms (FBResearch Report). The company’s shares closed last Wednesday at $174.95, close to its 52-week low of $169.00.

According to TipRanks.com, Martin is a 4-star analyst with an average return of 7.8% and a 43.8% success rate. Martin covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment, Paramount Global Class B, and Tremor International.

Currently, the analyst consensus on Meta Platforms is a Moderate Buy with an average price target of $308.40, a 76.8% upside from current levels. In a report issued on April 19, Rosenblatt Securities also initiated coverage with a Hold rating on the stock with a $228.00 price target.

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Based on Meta Platforms’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $33.67 billion and net profit of $10.29 billion. In comparison, last year the company earned revenue of $28.07 billion and had a net profit of $11.22 billion.

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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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