Fintel reports that on May 2, 2024, Exane BNP Paribas initiated coverage of Meta Platforms (NasdaqGS:META) with a Underperform recommendation.
Analyst Price Forecast Suggests 19.70% Upside
As of May 2, 2024, the average one-year price target for Meta Platforms is 525.73. The forecasts range from a low of 262.60 to a high of $622.65. The average price target represents an increase of 19.70% from its latest reported closing price of 439.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Meta Platforms is 139,653MM, a decrease of 2.14%. The projected annual non-GAAP EPS is 10.48.
What is the Fund Sentiment?
There are 5,699 funds or institutions reporting positions in Meta Platforms. This is an increase of 437 owner(s) or 8.30% in the last quarter. Average portfolio weight of all funds dedicated to META is 1.65%, an increase of 2.72%. Total shares owned by institutions increased in the last three months by 0.78% to 1,952,341K shares. 
The put/call ratio of META is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 69,666K shares representing 2.75% ownership of the company. In its prior filing, the firm reported owning 69,203K shares , representing an increase of 0.66%. The firm increased its portfolio allocation in META by 6.07% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 54,221K shares representing 2.14% ownership of the company. In its prior filing, the firm reported owning 53,410K shares , representing an increase of 1.49%. The firm increased its portfolio allocation in META by 5.73% over the last quarter.
Jpmorgan Chase holds 49,078K shares representing 1.93% ownership of the company. In its prior filing, the firm reported owning 48,392K shares , representing an increase of 1.40%. The firm increased its portfolio allocation in META by 4.13% over the last quarter.
Geode Capital Management holds 45,919K shares representing 1.81% ownership of the company. In its prior filing, the firm reported owning 45,198K shares , representing an increase of 1.57%. The firm increased its portfolio allocation in META by 5.16% over the last quarter.
Price T Rowe Associates holds 45,532K shares representing 1.80% ownership of the company. In its prior filing, the firm reported owning 48,579K shares , representing a decrease of 6.69%. The firm increased its portfolio allocation in META by 1.33% over the last quarter.
Meta Platforms Background Information
(This description is provided by the company.)
Facebook’s mission is to give people the power to build community and bring the world closer together. The company builds useful and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices. Facebook also helps people discover and learn about what is going on in the world around them, enable people to share their opinions, ideas, photos and videos, and other activities with audiences ranging from their closest family members and friends to the public at large, and stay connected everywhere by accessing its products, including: Facebook enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers. There are a number of different ways to engage with people on Facebook and build community, including Facebook News Feed, Stories, Groups, Shops, Marketplace, News, and Watch. Instagram brings people closer to the people and things they love. It is a place where people can express themselves through photos, videos, and private messaging, and connect with and shop from their favorite businesses and creators. They can do this through Instagram Feed, Stories, Reels, IGTV, Live, Shops, and messaging. Messenger is a simple yet powerful messaging application for people to connect with friends, family, groups, and businesses across platforms and devices through chat, video, and Rooms. WhatsApp is a simple, reliable, and secure messaging application that is used by people and businesses around the world to communicate and transact in a private way. Facebook Reality Labs’ augmented and virtual reality products help people feel connected, anytime, anywhere. Oculus Quest lets people defy distance with cutting-edge virtual reality (VR) hardware, software, and content, while Portal helps friends and families stay connected and share the moments that matter in meaningful ways. Facebook generates substantially all of its revenue from selling advertising placements to marketers. Its ads enable marketers to reach people based on a variety of factors including age, gender, location, interests, and behaviors. Marketers purchase ads that can appear in multiple places including on Facebook, Instagram, Messenger, and third-party applications and websites. Founded in 2004 by Mark Zuckerberg, the company is headquartered in Menlo Park, CA.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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