Is It Too Late to Buy Meta Platforms Stock?
With gains of 110% so far, Meta Platforms (NASDAQ: META) has been one of the tech sector's best-performing stocks this year. In addition to investors generally warming back up to companies with growth-dependent valuations, the social media giant's valuation has also benefited from better-than-expected earnings results and excitement surrounding its artificial intelligence (AI) initiatives.
But after such explosive gains in a relatively short period of time, is Meta stock still a worthwhile investment? If you're considering investing in the social media giant, read on for a look at positive and negative factors that could shape its performance.
Digital advertising companies are already facing macroeconomic headwinds, and many economists and stock market analysts now expect that the U.S. economy will enter into an official recession this year or next. Meta managed to increase revenue roughly 3% year over year in the first quarter, reaching more than $28.6 billion in sales, but it's possible that industry conditions will make it harder to grow.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 10 Buy predictions and 2 Sell predictions.
As a result the target price of 500 € shows a slightly positive potential of 14.06% compared to the current price of 438.35 € for Meta Platforms Inc..
