Up 154%, This Magnificent Artificial Intelligence (AI) Stock Is a Screaming Buy Before It Skyrockets
Shares of Meta Platforms (NASDAQ: META) have crushed the broader market handsomely in the past year with impressive gains of 154%, driven by robust growth in its top and bottom lines. It looks like its eye-popping rally is here to stay following its latest earnings report.
Meta Platforms released its fourth-quarter and full-year 2023 results on Feb. 1. Shares of the company jumped 20% the following day thanks to its better-than-expected numbers and guidance. The good part is that Meta stock remains affordable, and investors who haven't bought this tech giant yet should consider buying it hand over fist right now.
Meta Platforms reported Q4 revenue of $40.1 billion, an increase of 25% over the year-ago period. Additionally, the company reduced its costs and expenses by 8% during the quarter, which allowed it to triple its adjusted earnings on a year-over-year basis to $5.33 per share. The numbers were better than consensus expectations of $4.96 per share in earnings on revenue of $39.2 billion.
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 9.47% for Meta Platforms Inc. compared to the current price of 470.45 €.
