Home
News
- Meta Platforms has raised money in a five-part deal on May 1st..
- Ten more companies were part of offerings including Hershey Co. and Comcast Corp.
According to a Reuters report, Meta Platforms Inc (NASDAQ: META.O) raised $8.5 Billion in a five-part bond offering. This was its second issue after the tech-firm raised $10 Billion last year.
On May 1st, Meta Platforms stated in its filing that “the bond issue’s longest 40-year security could yield 192 basis points over Treasuries.” However, the funds would be used to help finance capital expenditures and repurchasing of outstanding shares of its common stock, and also for the acquisitions or investments,” as the tech-firm added.
It must be noted that last week, Meta beat expectations for Q1 profit and revenue that result in a 13% surge in its shares.
As Bloomberg reported, “the lively start to the week, corporate bond issuance has been abysmal recently.” This year’s investment-grade issuance is down 15% from the previous five-year average, while the high-yield primary market has been 45% slower.
The revenue of Meta Platforms for the last year amounted to $116.61 Billion, the most of which — $114.45 Billion — came from its highest performing source at the moment, Family of Apps, the year earlier bringing $115.66 Billion. The greatest contribution to the revenue figure was made by the United States — last year it brought the tech-firm $47.20 Billion, and the year before that — 48.38 Billion.
Moreover, the EPS of Meta Platforms for Q1 2023 are $2.20 whereas the estimation was $2.02 which accounts for 8.86% surprise. Estimated earnings for Q2 2023 are $2.82.
META Stock Price Analysis
According to the data sourced from Tradingview, META stock showed its bullish outlook in its all-time price gain with more than 450%. The tech-stock closed at $243.18 on Monday, May 1st. It can be seen that the recent happenings in the company took the stock price to reach its 52-week high. META stock marked its 52-week high at $244 while low was at $88.09. Its year-to-date price surge is 98%.
As shown in the above chart, the tech-stock showing a bullish outlook. It has also surpassed its 200-day EMA, while active bulls in the market bring it to mark a new-high. The RSI is also resting in the overbought zone.
The analysts have set their price target at $266.00 that is nearly 9% up from its recent closing price. Meanwhile, for 1-year price forecasts for Meta Platforms a maximum estimate of $350.00 and a minimum estimate of $100.00.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
