The fallout from Meta Platforms' (NASDAQ: META) unhappy third quarter continued to rain down on Friday. Although shares of the huge social media company were recovering modestly, they still trailed the bellwether S&P 500 index. The stock was inching up by slightly over 1% in late-session trading, while the index was pushing ahead by 2.4%.

In addition to the lingering gloomy sentiment deriving from that lackluster earnings report, several analysts became more bearish on Meta's prospects Friday. Chief among these was Edward Jones' David Heger, who downgraded his recommendation on the social media stock to hold, from his previous buy.

Heger said that while Meta is doing fairly well considering the current challenging macroeconomic environment, its deep plunge into the metaverse might not produce meaningful returns for quite some time. The company has been devoting more resources to its metaverse efforts lately.

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Source Fool.com