Advertising Spend on Instagram Is Blowing Up
When Instagram provided its most recent update on active users, noting it now has over 800 million monthly active users, it also quietly added that it has over 2 million active advertisers. That's double the number of advertisers Instagram had six months prior, and quadruple its count six months before that.
While it's one thing for the Facebook (NASDAQ: FB) subsidiary to throw out rapid growth in users and advertisers, it's another for that to translate into real advertising revenue growth. A recent note from SunTrust Robinson Humphrey's Youssef Squali says his talk with marketing software firm Kenshoo indicates ad spend on Instagram increased 2.5 times year over year in the third quarter. For a bit of context, that's exactly the kind of growth analysts were expecting from Snap (NYSE: SNAP) before it went public earlier this year.
Image source: Facebook.
Source: Fool.com
Meta Platforms Inc. Stock
With 10 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 500 € there is a slightly positive potential of 16.55% for Meta Platforms Inc. compared to the current price of 429.0 €.
