Meta Platforms Inc. (NASDAQ:META) trade information

Instantly META was in green as seen at the end of in last trading. With action -1.63%, the performance over the past five days has been red. The jump to weekly highs of 312.87 on Monday, 09/18/23 added 0.75% to the stock’s daily price. The company’s shares are showing year-to-date upside of 151.41%, with the 5-day performance at -1.63% in the red. However, in the 30-day time frame, Meta Platforms Inc. (NASDAQ:META) is 6.12% up. Looking at the short shares, we see there were 30.31 million shares sold at short interest cover period of 1.62 days.

The consensus price target for the stock as assigned by Wall Street analysts is $369.54, meaning bulls need an upside of 18.13% from its current market value. According to analyst projections, META’s forecast low is $100.00 with $435.00 as the target high. To hit the forecast high, the stock’s price needs a -43.78% plunge from its current level, while the stock would need to tank 66.95% for it to hit the projected low.

Meta Platforms Inc. (META) estimates and forecasts

Data shows that the Meta Platforms Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 54.67% over the past 6 months, a 33.37% in annual growth rate that is considerably higher than the industry average of 22.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Meta Platforms Inc. will rise 119.50%, while the growth in revenue is estimated to hit 173.30% for the next quarter. Year-over-year growth is forecast to reach 13.70% up from the last financial year.

Consensus estimates given by 38 financial analysts project the company’s revenue in the current quarter to hit an average of $33.49 billion. 38 analysts are of the opinion that Meta Platforms Inc.’s revenue for the quarter ending Dec 2023 will be $38.75 billion. The company’s revenue for the corresponding quarters a year ago was $27.71 billion and $32.16 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 20.80%. The estimates for the next quarter sales put growth at 20.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 8.20%. The 2023 estimates are for Meta Platforms Inc. earnings to decrease by -33.60%, but the outlook for the next 5-year period is at 30.83% per year.

META Dividends

Meta Platforms Inc. is expected to release its next quarterly earnings report between October 24 and October 30.

Meta Platforms Inc. (NASDAQ:META)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.23% of Meta Platforms Inc. shares while 76.35% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.52%. There are 76.35% institutions holding the Meta Platforms Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.17% of the shares, roughly 181.51 million META shares worth $54.92 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.01% or 155.78 million shares worth $47.13 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 68.99 million shares estimated at $20.87 billion under it, the former controlled 3.10% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.37% of the shares, roughly 52.67 million shares worth around $15.94 billion.