Why Meta Platforms Stock Was Trouncing the Market Today
A reassuring analyst note helped support Meta Platforms' (NASDAQ: META) share-price gain on Wednesday. After the note was published, the social media bellwether was trading nearly 3% higher by midafternoon. That was more than double the increase of the S 500 index at that point.
The prognosticator behind the note was Justin Post at Bank of America. In reiterating his buy recommendation on Meta Platforms at a price target of $375, he said that the company's shares had "slightly underperformed" both the stock market and peer stocks.
In Post's view, this was due to a set of factors, including potentially higher-than-expected costs, possible regulatory issues, and losses in the company's underperforming metaverse efforts. He also cited the declining take-up of Threads, Meta Platforms' answer to Twitter, as a current worry.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 8 Buy predictions and 2 Sell predictions.
As a result the target price of 515 € shows a slightly positive potential of 12.16% compared to the current price of 459.15 € for Meta Platforms Inc..
