Wolfe Research slashes price target on Meta Platforms Inc [META] – find out why.

Meta Platforms Inc [NASDAQ: META] closed the trading session at $495.89.

The stocks have a year to date performance of 40.10 percent and weekly performance of -0.07 percent. The stock has been moved at 64.84 percent over the last six months. The stock has performed 2.94 percent around the most recent 30 days and changed 40.32 percent over the most recent 3-months.

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If compared to the average trading volume of 17.84M shares, META reached to a volume of 11160700 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $523.08 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.

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 13.15, with the Price to Sales ratio for META stock in the period of the last 12 months amounting to 9.37. The Price to Book ratio for the last quarter was 8.29, 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 28.83 with Quick ratio for the last quarter at 2.67.

META stock trade performance evaluation

Meta Platforms Inc [META] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.07. With this latest performance, META shares gained by 2.94% in over the last four-week period, additionally plugging by 64.84% over the last 6 months – not to mention a rise of 140.71% 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 54.73, with the RSI for the last a single of trading hit 49.99, and the three-weeks RSI is set at 57.90 for Meta Platforms Inc [META]. The present Moving Average for the last 50 days of trading for this stock 460.21, while it was recorded at 504.35 for the last single week of trading, and 349.66 for the last 200 days.

Meta Platforms Inc [META]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Meta Platforms Inc [META] stock

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]: Institutional Ownership

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%.