Meta Platforms Inc [NASDAQ: META] stock went on a downward path that fall over -1.22% on Firday, amounting to a one-week price increase of more than 0.73%. The company report on March 5, 2024 at 6:30 AM that Arevon and Meta Announce Long-Term Contracts for 349 Megawatts of New Solar Energy.
Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, and Meta Platforms, Inc. (NASDAQ: META) have signed two long-term Environmental Attributes Purchase Agreements (EAPA) for the Kelso Solar Project in Scott County, Missouri.
The Kelso Solar Project will generate 349 megawatts (MWac) of power and will help support Meta’s operations in the region with 100% renewable energy.
Over the last 12 months, META stock rose by 173.53%. The one-year Meta Platforms Inc stock forecast points to a potential upside of 1.94. The average equity rating for META stock is currently 1.48, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1289.87 billion, with 2.21 billion shares outstanding and 2.19 billion shares in the current float. Compared to the average trading volume of 18.74M shares, META stock reached a trading volume of 18020450 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $515.97 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 1.48. 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.
Wolfe Research have made an estimate for Meta Platforms Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 02, 2024. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $438 to $536. The new note on the price target was released on February 02, 2024, representing the official price target for Meta Platforms Inc stock. Previously, the target price had yet another raise from $420 to $520, while Wedbush kept a Outperform rating on META stock. On February 02, 2024, analysts increased their price target for META shares from 425 to 530.
The Average True Range (ATR) for Meta Platforms Inc is set at 13.61, with the Price to Sales ratio for META stock in the period of the last 12 months amounting to 9.56. The Price to Book ratio for the last quarter was 8.46, with the Price to Cash per share for the same quarter was set at 25.69. Price to Free Cash Flow for META in the course of the last twelve months was 29.42 with Quick ratio for the last quarter at 2.67.
META Stock Performance Analysis:
Meta Platforms Inc [META] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.73. With this latest performance, META shares gained by 7.74% in over the last four-week period, additionally plugging by 69.40% over the last 6 months – not to mention a rise of 173.53% 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 67.75, with the RSI for the last a single of trading hit 66.29, and the three-weeks RSI is set at 68.55 for Meta Platforms Inc [META]. The present Moving Average for the last 50 days of trading for this stock 426.63, while it was recorded at 500.53 for the last single week of trading, and 335.58 for the last 200 days.
Insight into Meta Platforms Inc Fundamentals:
Meta Platforms Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.67 and a Current Ratio set at 2.67.
META Stock EPS
With the latest financial reports released by the company, Meta Platforms Inc posted 2.2/share EPS, while the average EPS was predicted by analysts to be reported at 2.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.40%. 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 26.00%.
Meta Platforms Inc [META] Institutonal Ownership Details
The top three institutional holders of META stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in META stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in META stock with ownership which is approximately 5.8325%.
