$Meta Platforms (META.US)$ briefly hit a $530 all-time intraday high Thursday after two analysts booted their price targets on the social-media giant.
Jefferies maintained a Buy rating on the stock and raised its price target to $585 from a previous $550. Meanwhile, RBC Capital Markets reportedly raised its META target to $600 from an earlier $565.
META rose as much as 4.6% to $530 during Thursday's session before easing back to end the day at $510.92, up 0.8%.
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 Elon Musk-owned 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 Q1 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 Benzinga Pro, analysts expects the company to report $4.28 in earnings per share on $36.1 billion of quarterly revenue.