Is Meta Platforms Stock Still a Buy After Hitting a New 52-Week High?
Meta Platforms (NASDAQ: META) was one of the S 500's hottest stocks last year, rising by an impressive 194% in 2023. It bounced back in a big way after a disappointing 2022 when its share price tanked by 64%.
The stock still shows no sign of slowing down as it recently hit new 52-week highs. Is Meta Platforms' stock going to generate strong returns yet again this year, or is now the time for investors to consider cashing out?
Investors became bearish on Meta Platforms' business in 2022 as a weak ad market resulted in lackluster sales growth for the company. Towards the end of the year, the company struggled to generate any growth at all. But in recent quarters and amid a more favorable outlook for the economy, the business has been rebounding -- in a big way.
Source Fool.com
Meta Platforms Inc. Stock
With 8 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 515 € there is a slightly positive potential of 11.35% for Meta Platforms Inc. compared to the current price of 462.5 €.
