Meta Platforms

Meta Platforms (NASDAQ:META) builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.

Wells Fargo raised its price target on Meta Platforms (NASDAQ:META) to $280 to maintain its overweight rating

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Wells Fargo raised its price target on Meta Platforms (NASDAQ:META) to $280 from $250 and maintained its overweight rating on the stock. The bank noted that Meta has strengthened its commitment to improving organizational efficiency, announcing the layoff of about 10,000 employees during 2023 and lowering its operating expenditure guidance for 2023 to $86 billion to $92 billion from the previous $89 billion to $95 billion.

Wells Fargo raised its price target on Meta Platforms (NASDAQ:META) to $280 to maintain its overweight rating Read Post »

Stifel Raised Meta Platforms (NASDAQ:META) price target to $230 Maintain Buy rating

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Stifel analyst Mark Kelley will raise its price target on Meta Platforms (NASDAQ:META) to $230 from $210 and maintain a buy rating on the stock after the company released an 8-K filing detailing a new round of work and cost-cutting measures. The analyst told investors in a research note that he lowered his total spending on Meta for 2023 and 2024; Given that the vast majority of these changes will occur in April and May, some degree of disruption is expected, so the revenue growth assumptions have been slightly downgraded.

Stifel Raised Meta Platforms (NASDAQ:META) price target to $230 Maintain Buy rating Read Post »

Truist: Raised Meta Platforms (NASDAQ:META) price target to $230 Maintain Buy rating

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Truist analyst Youssef Squali will raise its price target on Meta Platforms (NASDAQ:META) to $230 from $215 and maintain a buy rating on the stock. The analyst noted that the company’s second round of layoffs, which affects 10,000 jobs, will result in annualized cost savings of $2.5 billion to $3.5 billion and should start having a positive impact on profitability in the second half of the year. The analyst added that the move was welcome given that growth has slowed sharply and future visibility remains uncertain.

Truist: Raised Meta Platforms (NASDAQ:META) price target to $230 Maintain Buy rating Read Post »

Mizuho Raised Meta Platforms (NASDAQ:META) price target to $235 Maintain Buy rating

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Mizuho raised its price target on Meta Platforms (NASDAQ:META) to $235 from $210 and maintained a buy rating on the stock as a go-to stock. The analyst told investors in a research note that Meta continued to deliver on its promise of an “efficiency year,” announcing another round of restructuring that reduced operating costs by 7 percentage points in fiscal 2023 to year-over-year growth2. The bank believes that Meta “still has enough capacity to unleash further productivity”; Metaverse investment still accounts for 11% of its total revenue, and the research and development intensity is twice that of peers Alphabet and Amazon.

Mizuho Raised Meta Platforms (NASDAQ:META) price target to $235 Maintain Buy rating Read Post »

Cowen raised Meta Platforms(NASDAQ:META) price target to $190 from $175

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TD Cowen analyst John Blackledge described Meta Platforms(NASDAQ:META) raised its price target to $190 from $175 and maintained its “outperform” rating. “They disclosed updates to employees on the company’s 23 efficiency programs; The plan calls for 10,000 job cuts and the elimination of 5,000 open positions, and we updated our model to reflect the new guidelines. ”

Cowen raised Meta Platforms(NASDAQ:META) price target to $190 from $175 Read Post »

UBS: reiterated Meta Platforms (NASDAQ:META) Buy Rating with a $235 price target

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UBS reiterated its Buy rating on Meta Platforms (NASDAQ:META) with a price target of $235 and continued to rank the stock as the “best option,” with a $3 billion operating cost cut combined with a $3 billion restructuring charge to reduce core operating costs by $6 billion in 2023 and approximately $8 billion in operating cost savings in 2024. UBS said this equates to nearly $2.50 in tax-affected earnings per share, while the bank’s forecast for GAAP earnings per share for fiscal 2024 ($13) is higher than consensus expectations.

UBS: reiterated Meta Platforms (NASDAQ:META) Buy Rating with a $235 price target Read Post »

Oppenheimer raised its price target on Meta Platforms (NASDAQ:META) to $260 from $235

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Oppenheimer raised its price target on Meta Platforms (NASDAQ:META) to $260 from $235 and maintained its “outperform” rating on the stock. Meta announced a new round of layoffs of about 10,000 people on Tuesday and will close about 5,000 additional unfilled positions in the past six months. As a result of this news, analysts raised Meta’s earnings before interest, taxes, depreciation and amortization (EBITDA) forecasts for both fiscal 2023 and fiscal 2024 by 12, while raising the company’s earnings forecasts excluding one-time items by 22 and 24 for fiscal 2023 and fiscal 2024, respectively.

Oppenheimer raised its price target on Meta Platforms (NASDAQ:META) to $260 from $235 Read Post »

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