Meta Platforms Stock Just Plunged. Should You Buy the Dip or Run for Cover?
Meta Platforms (NASDAQ: META) has been one of the best-performing stocks on the market since the beginning of 2023, gaining more than 300% at one point.
However, that momentum didn't help the social media giant Wednesday night after it reported first-quarter earnings. Meta stock plunged 15% after hours on the update, even though first-quarter results were strong.
Revenue in the first quarter jumped 27% to $36.5 billion, its fastest growth rate in several quarters, and edged out estimates at $36.2 billion. Operating margin improved from 25% to 38% as advertising growth returned and the company benefited from last year's cost cuts. On the bottom line, generally accepted accounting principles (GAAP) earnings per share jumped 114% to $4.71, topping expectations at $4.32.
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 16.55% compared to the current price of 429.0 € for Meta Platforms Inc..
