As reported by Wall Street Journal: "European regulators ruled the Facebook and Instagram parent can't use its contracts with users to justify sending them ads based on their online activity, a blow to the digital-advertising industry." You can read more about it here. Nonetheless, Meta Platforms rose 2.7% during the afternoon session to $128.1 per share.
Meta Platforms, Inc. develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. The company belongs to the Communication Services sector, which has an average price to earnings (P/E) ratio of 18.65 and an average price to book (P/B) ratio of 2.62. In contrast, Meta Platforms has a trailing 12 month P/E ratio of 12.2 and a P/B ratio of 2.8.
Meta Platforms has moved -61.5% over the last year compared to -18.6% for the S&P 500 -- a difference of -42.9%. Meta Platforms has a 52 week high of $339.17 and a 52 week low of $88.09. At today's price of $128.1 per share, Meta Platforms is -15.77% away from its target price of $152.09, and on average, analysts give the stock a rating of buy. 1.5% of the company's shares are linked to short positions, and 76.2% of the shares are owned by institutional investors.