Other analysts cheered the results, pointing to strong engagement, rising monetization of its TikTok rival Reels and return on investments in artificial intelligence as bright spots in the report.īank of America analyst Justin Post upped his price target on Meta shares to $375 from $350 and reiterated his buy rating on the stock. "While there were some mixed narratives (both qualitative and quantitative) around opex/capex in 2023/2024, our view is that management's 'year of efficiency' theme continues to drive a sustained mentality shift inside the company - while long-term investments behind key objectives remain a focus area (in terms of infrastructure & talent), we expect management to continue to balance driving growth and increased returns," Goldman Sachs analyst Eric Sheridan, who maintains a buy rating on Meta shares, wrote in a Thursday note. The company on Wednesday reported earnings per share of 2.98, which was higher than the 2.91 per share expected by a survey of Refinitiv analysts. The results reflect a rebound in online advertising, as well as signs that Meta CEO Mark Zuckerberg's "year of efficiency," or focus on cutting costs and improving profitability, is paying off. That's above the $31.3 billion analysts were expecting. Personal Loans for 670 Credit Score or Lowerįor the third quarter, the Facebook parent company forecast revenue of $32 billion to $34.5 billion. Meta, the new name for Facebook Inc., is a reference to the metaverse, something CEO Mark Zuckerberg is obsessed with. Personal Loans for 580 Credit Score or Lower plunged Thursday, wiping about 232 billion from the technology giant’s market value, the biggest one-day decline for a stock in U.S. Best Debt Consolidation Loans for Bad Credit Shares of Facebook parent Meta Platforms Inc.
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