Monthly Stock Report: Meta Platforms, Inc. (META)
Publication Date: September 22, 2024
Company Overview
Meta Platforms, Inc. (NASDAQ: META), headquartered in Menlo Park, California, is a dominant force in the Internet Content & Information industry. Originally founded as Facebook, Inc., the company rebranded to Meta Platforms in October 2021. Meta is dedicated to enhancing connections through a diverse portfolio of products, including mobile applications such as Facebook, Instagram, Messenger, and WhatsApp, as well as virtual and augmented reality initiatives via its Reality Labs segment. With strong revenue generation capabilities, Meta reported approximately $149.78 billion in total revenue for its latest fiscal period, reflecting its robust financial health and substantial market presence.
Stock Performance and Analyst Insights
As of the latest trading session, Meta shares are priced at $561.35, with analyst projections indicating a target high of $660.00—suggesting a potential upside of roughly 17.5%. The company has a total of approximately 2.18 billion shares outstanding, with a short interest of about 1.52%, indicating investor confidence in Meta’s performance. Analysts collectively rate the stock as a “buy,” supported by a mean recommendation score of 1.8 from a total of 58 analysts. Furthermore, the median target price ($573.29) and the stability in price projections underscore a favorable outlook for investors.
Market Trends and Potential
Over the past year, Meta has demonstrated resilience, with its stock price nearing its fifty-two-week high of $564.50, following a significant recovery from a low of $279.40. The current fifty-day moving average stands at $507.13, indicating a prevailing bullish sentiment among investors. With the technology and social media landscapes evolving rapidly, Meta’s focus on augmented reality and virtual experiences positions it favorably for future growth opportunities. As analysts expect continued strong performance within the interactive media space, Meta remains a compelling investment option for those seeking exposure to the dynamic digital content market.
| Metric | Value |
|---|---|
| Market Cap | $1420.1b |
| Total Debt | $38.0b |
| Total Cash | $58.1b |
| Shares Outstanding | 2.2b |
| Float Shares | 2.2b |
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