What's Going On With Facebook Parent Meta Platforms' Stock?

Meta Platforms, Inc. META shares are moving higher, and the stock notched a new all-time high of $530.00 per share Thursday after Jefferies maintained a Buy rating on Meta and raised its price target from $550 to $585.

What Else:

Earlier this week, Meta's head of communications Andy Stone clarified the details of a brewing controversy including allegations that Facebook had been sharing its users' private messages with Netflix. 

“Meta didn’t share people’s private messages with Netflix. The agreement allowed people to message their friends on Facebook about what they were watching on Netflix, directly from the Netflix app,” Stone posted on the social media platform X. 

Meta is set to announce its first-quarter financial results after the market close on April 24 and will host a conference call to discuss the results at 5 p.m. ET the same day. According to estimates from Benzinga Pro, the company is expected to report earnings of $4.28 per share and quarterly revenue of $36.051 billion. 

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META Stock Forecast in 2030:

While past performance is not a direct indicator of future results, investors should have an idea of a stock's historical growth rate and systemic risk. Meta Platforms META has grown 23.73% over the past 5 years compared to 12.47% growth in the S&P. Meta Platforms has a beta of 1.0, suggesting high volatility when compared to the S&P 500.

Meta Platforms operates in the Communication Services sector and has a forward P/E ratio of 25.25, which is above the S&P 500 average of 23.88. A higher ratio suggests that investors are paying a high price today for expected future returns.

Growth stocks can generate high returns over the long term but can also be more volatile and considered riskier. Conversely, a lower ratio generally indicates more stable revenues and less expected volatility.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.

META Price Action: According to Benzinga Pro, Meta Platforms shares are up 1.96% at $516.66 at the time of publication Thursday.

Image: Courtesy of Meta Platforms, Inc.