New Buy Rating for Meta Platforms (FB), the Technology Giant

In a report released yesterday, Brent Thill from Jefferies maintained a Buy rating on Meta Platforms (FB – Research Report), with a price target of $420.00. The company’s shares closed last Monday at $346.18.

According to TipRanks.com, Thill is a 5-star analyst with an average return of 24.6% and a 62.9% success rate. Thill covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Palantir Technologies, and CrowdStrike Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Meta Platforms with a $406.31 average price target, representing a 19.9% upside. In a report issued on December 15, Monness also maintained a Buy rating on the stock with a $460.00 price target.

Based on Meta Platforms’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $29.01 billion and net profit of $9.19 billion. In comparison, last year the company earned revenue of $21.47 billion and had a net profit of $7.85 billion.

Based on the recent corporate insider activity of 299 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FB in relation to earlier this year.

Social networking company Facebook, Inc. develops applications that enable people to connect through mobile devices, personal computers, and other devices. The firm’s products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. Its revenue comes primarily from advertising. The company was founded by Mark Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004 and is headquartered in Menlo Park+D9, CA.

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