In a report released yesterday, Mark Kelley from Stifel Nicolaus maintained a Buy rating on Meta Platforms (FB – Research Report), with a price target of $350.00. The company’s shares closed last Wednesday at $232.00, close to its 52-week low of $216.15.
According to TipRanks.com, Kelley is a top 100 analyst with an average return of 48.1% and a 86.5% success rate. Kelley covers the Technology sector, focusing on stocks such as Criteo SA, Pinterest, and Twitter.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Meta Platforms with a $332.14 average price target, which is a 48.1% upside from current levels. In a report issued on January 25, BMO Capital also maintained a Buy rating on the stock with a $425.00 price target.
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.
Based on the recent corporate insider activity of 274 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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