Meta Platforms (META) was downgraded to a Hold Rating at Arete Research
Arete Research analyst Rocco Strauss downgraded Meta Platforms to a Hold today and set a price target of $676.00.
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According to TipRanks, Strauss is an analyst with an average return of -11.8% and a 37.50% success rate.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Meta Platforms with a $863.54 average price target.
Based on Meta Platforms’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $59.89 billion and a net profit of $22.77 billion. In comparison, last year the company earned a revenue of $48.39 billion and had a net profit of $20.84 billion
Based on the recent corporate insider activity of 227 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of META in relation to earlier this year. Last month, Javier Olivan, the COO of META bought 5,471.00 shares for a total of $3,500,181.67.
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