Wolfe Research Initiates Coverage of Meta Platforms (BIT:1FB) with Outperform Recommendation

Fintel reports that on July 16, 2024, Wolfe Research initiated coverage of Meta Platforms (BIT:1FB) with a Outperform recommendation.

Analyst Price Forecast Suggests 6.61% Upside

As of July 4, 2024, the average one-year price target for Meta Platforms is €489.39/share. The forecasts range from a low of €241.88 to a high of €613.18. The average price target represents an increase of 6.61% from its latest reported closing price of €459.05 / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Meta Platforms is 154,048MM. The projected annual non-GAAP EPS is 17.74.

What is the Fund Sentiment?

There are 5,922 funds or institutions reporting positions in Meta Platforms. This is an increase of 330 owner(s) or 5.90% in the last quarter. Average portfolio weight of all funds dedicated to 1FB is 1.78%, an increase of 9.79%. Total shares owned by institutions decreased in the last three months by 2.36% to 1,905,194K shares.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 69,157K shares representing 2.73% ownership of the company. In its prior filing, the firm reported owning 69,666K shares , representing a decrease of 0.74%. The firm increased its portfolio allocation in 1FB by 24.16% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 55,443K shares representing 2.19% ownership of the company. In its prior filing, the firm reported owning 54,221K shares , representing an increase of 2.20%. The firm increased its portfolio allocation in 1FB by 23.68% over the last quarter.

Jpmorgan Chase holds 50,183K shares representing 1.98% ownership of the company. In its prior filing, the firm reported owning 49,078K shares , representing an increase of 2.20%. The firm increased its portfolio allocation in 1FB by 23.50% over the last quarter.

Geode Capital Management holds 46,413K shares representing 1.83% ownership of the company. In its prior filing, the firm reported owning 45,919K shares , representing an increase of 1.06%. The firm increased its portfolio allocation in 1FB by 22.61% over the last quarter.

Price T Rowe Associates holds 43,118K shares representing 1.70% ownership of the company. In its prior filing, the firm reported owning 45,532K shares , representing a decrease of 5.60%. The firm increased its portfolio allocation in 1FB by 18.51% over the last quarter.

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This story originally appeared on Fintel.

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