Meta Platforms Inc [NASDAQ: META] gained 3.21% on the last trading session, reaching $527.34 price per share at the time. The company report on April 1, 2024 at 4:05 PM that Meta to Announce First Quarter 2024 Results.
Meta Platforms, Inc. (NASDAQ: META) announced today that the company’s first quarter 2024 financial results will be released after market close on Wednesday, April 24, 2024.
Meta will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. The live webcast of the call can be accessed at the Meta Investor Relations website at investor.fb.com, along with the company’s earnings press release, financial tables, and slide presentation.
If compared to the average trading volume of 17.82M shares, META reached a trading volume of 19230899 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 $527.12 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 1.42. 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.
Jefferies have made an estimate for Meta Platforms Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 04, 2024. While these analysts kept the previous recommendation, Wolfe Research raised their target price from $430 to $530. 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 $438 to $536, while Wells Fargo kept a Overweight rating on META stock. On February 02, 2024, analysts increased their price target for META shares from 420 to 520.
The Average True Range (ATR) for Meta Platforms Inc is set at 13.93, with the Price to Sales ratio for META stock in the period of the last 12 months amounting to 9.97. The Price to Book ratio for the last quarter was 8.82, 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 30.66 with Quick ratio for the last quarter at 2.67.
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 8.60. With this latest performance, META shares gained by 6.30% in over the last four-week period, additionally plugging by 72.57% over the last 6 months – not to mention a rise of 145.59% 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 67.08, with the RSI for the last a single of trading hit 71.67, and the three-weeks RSI is set at 65.65 for Meta Platforms Inc [META]. The present Moving Average for the last 50 days of trading for this stock 477.41, while it was recorded at 506.74 for the last single week of trading, and 357.58 for the last 200 days.
Meta Platforms Inc [META]: A deeper dive into fundamental analysis
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 Platforms Inc [META]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at Meta Platforms Inc [META]
There are presently around $1.27 trillion, or None% of META stock, in the hands of institutional investors. The top three institutional holders of META stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in META stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in META stock with ownership which is approximately 5.8386%.
