Meta Platforms Stock Nearly Tripled in 2023. Here's Why It's Not Too Late to Buy the Stock.
What a difference a year makes. In the economic turmoil that characterized 2022, Meta Platforms (NASDAQ: META) was hit hard. Marketers pulled back on digital ad spending -- which accounts for the lion's share of Meta's revenue. For the first time in its history, the company experienced three consecutive quarters of declining revenue growth, which sent its stock price plunging 64%.
However, a rebound in the ad market and excitement around artificial intelligence (AI) lit a fire under Meta Platforms last year, sending the stock up 194%. As impressive as its performance has been, this could be just the beginning.
Let's look at several factors that could play into a banner year for Meta Platforms and why there could be much more growth ahead.
Source Fool.com
Meta Platforms Inc. Stock
With 9 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 €.
