Meta Platforms Inc Stock Ripped 137.92% Year-To-Date, Next Happenings
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During the last trading session, META, the small-cap uranium stock, experienced a decline of -4.41%. However, over the past five days, it has consistently traded in the red, with a notable peak on Tuesday, October 24, 2023, when the stock reached a price level of $286.31, marking a 10.06% increase in value for the day. Looking at its year-to-date performance, META has seen a significant change of 137.92%. In the past 30 days, the stock has shown a performance of -3.84%. Additionally, there are 32.31 million shares sold short, which would take approximately 1.56 days to cover the short interests.
According to Wall Street analysts, the stock has a consensus price target of $371.82, implying a 23.0% rise from its current value. The low price target projected by analysts is $100.00, while the high target is $477.00. If the stock were to reach the projected high, it would experience a drop of -66.6% from its current price. Conversely, reaching the targeted low would result in a gain of 65.07% for the stock's current value.
In terms of industry comparison, Meta Platforms Inc has outperformed its competitors, demonstrating higher scores. Over the past six months, the company has added 20.02% of value to its shares, with an annual growth rate of 37.95%, surpassing the industry's rate of 19.10%. Furthermore, Meta Platforms Inc has raised its revenue forecast for fiscal year 2023, expecting a 108.50% increase in the current quarter and a 159.10% increase in the next quarter. This year, the company estimates a 7.30% rise in revenue growth compared to the previous financial year.
A total of 36 industry analysts have provided their revenue estimates for the current quarter, with an average figure of $31.65 billion. For the next quarter ending in December 2023, 36 analysts predict a revenue of $36.64 billion. In the same quarters a year earlier, the company recorded sales of $27.71 billion and $32.16 billion, respectively. Analysts anticipate a sales growth of 14.20% for the current quarter and 13.90% for the next quarter.
Examining the company's earnings over the past five years and the next five years, Meta Platforms Inc has achieved an annual earnings growth rate of 9.76% during the past five years. In 2023, the company's earnings growth rate is expected to be around 63.95%, with estimates projecting a 32.53% growth in earnings for the next five years.
Investors are eagerly awaiting Meta Platforms Inc's next quarterly report, scheduled for October 25. Despite facing challenges related to mounting debt, investors remain confident in the company's ability to announce better current-quarter dividends.
Insiders hold 0.23% of the company's total shares, while institutions own 76.35%. The stock has a share float percentage of 76.52%. Corporate investors closely monitor the number of institutional holders, and Meta Platforms Inc currently has 76.35% institutions holding shares. The top institutional holder is Vanguard Group Inc, with 181.51 million shares worth $52.09 billion. As of June 29, 2023, Vanguard Group Inc held 8.17% of the company's outstanding shares.
Blackrock Inc. is the second-largest institutional holder, with approximately 155.78 million shares as of June 29, 2023. This represents a 7.01% hold on outstanding shares, valued at $44.7 billion.
Among mutual funds, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two holders of Meta Platforms Inc shares. As of June 29, 2023, the former fund manager held 68.99 million shares worth $19.8 billion, accounting for 3.10% of the total outstanding shares. The latter fund manager possessed 52.67 million shares on June 29, 2023, representing a stake of approximately $15.12 billion or 2.37% of the company's stock.