Meta Platforms Inc [NASDAQ: META] gained 1.20% or 3.73 points to close at $314.60 with a heavy trading volume of 16665094 shares. The company report on October 25, 2023 at 4:16 PM that Meta Reports Third Quarter 2023 Results.
Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2023.
“We had a good quarter for our community and business,” said Mark Zuckerberg, Meta founder and CEO. “I’m proud of the work our teams have done to advance AI and mixed reality with the launch of Quest 3, Ray-Ban Meta smart glasses, and our AI studio.”.
It opened the trading session at $312.55, the shares rose to $315.55 and dropped to $311.0167, the range by which the price of stock traded the whole day. The daily chart for META points out that the company has recorded 35.15% gains over the past six months. However, it is still -257.13% lower than its most recent low trading price.
If we look at the average trading volume of 20.64M shares, META reached to a volume of 16665094 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Meta Platforms Inc [META]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for META shares is $376.43 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on META stock is a recommendation set at 1.43. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Seaport Research Partners have made an estimate for Meta Platforms Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 24, 2023.
The Average True Range (ATR) for Meta Platforms Inc is set at 9.75, with the Price to Sales ratio for META stock in the period of the last 12 months amounting to 6.37. The Price to Book ratio for the last quarter was 5.66, with the Price to Cash per share for the same quarter was set at 23.84. Price to Free Cash Flow for META in the course of the last twelve months was 21.52 with Quick ratio for the last quarter at 2.57.
Trading performance analysis for META stock
Meta Platforms Inc [META] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.02. With this latest performance, META shares gained by 3.22% in over the last four-week period, additionally plugging by 35.15% over the last 6 months – not to mention a rise of 247.47% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for META stock in for the last two-week period is set at 54.66, with the RSI for the last a single of trading hit 57.08, and the three-weeks RSI is set at 53.85 for Meta Platforms Inc [META]. The present Moving Average for the last 50 days of trading for this stock 305.27, while it was recorded at 308.25 for the last single week of trading, and 255.17 for the last 200 days.
Meta Platforms Inc [META]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Meta Platforms Inc [META] shares currently have an operating margin of +28.78 and a Gross Margin at +79.63. Meta Platforms Inc’s Net Margin is presently recorded at +19.90.
Return on Total Capital for META is now 22.96, given the latest momentum, and Return on Invested Capital for the company is 16.02. Return on Equity for this stock inclined to 18.52, with Return on Assets sitting at 13.19. When it comes to the capital structure of this company, Meta Platforms Inc [META] has a Total Debt to Total Equity ratio set at 21.70. Additionally, META Total Debt to Total Capital is recorded at 17.83, with Total Debt to Total Assets ending up at 14.69. Long-Term Debt to Equity for the company is recorded at 20.50, with the Long-Term Debt to Total Capital now at 16.84.
Reflecting on the efficiency of the workforce at the company, Meta Platforms Inc [META] managed to generate an average of $268,264 per employee. Receivables Turnover for the company is 8.48 with a Total Asset Turnover recorded at a value of 0.66.Meta Platforms Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.57 and a Current Ratio set at 2.57.
Meta Platforms Inc [META]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for META. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Meta Platforms Inc go to 32.47%.
An analysis of Institutional ownership at Meta Platforms Inc [META]
The top three institutional holders of META stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in META stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in META stock with ownership which is approximately 5.7994%.