In a report released today, Brian White from Monness maintained a Buy rating on Meta Platforms (FB – Research Report), with a price target of $375.00. The company’s shares closed last Friday at $221.82.
According to TipRanks.com, White is a 5-star analyst with an average return of 17.8% and a 65.0% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Alphabet Class A, and Salesforce.
Currently, the analyst consensus on Meta Platforms is a Moderate Buy with an average price target of $325.10, implying a 47.4% upside from current levels. In a report issued on March 14, Raymond James also reiterated a Buy rating on the stock.
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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