Meta's stock market rebound to surpass US$200B in value - BNN Bloomberg

The Facebook owner’s recovery in market value since a November low is set to surpass US$200 billion when U.S. trading opens. The shares surged as much as 20 per cent in premarket trading after Chief Executive Officer Mark Zuckerberg pledged Wednesday to make the social media company leaner. Analysts welcomed the move, with some hiking price targets by more than US$70 after the earnings report.

“In future years we will probably look back at 2023 as the sentiment shift for META shares,” Barclays Plc analyst Ross Sandler wrote in a note, raising the price target to US$260 from US$165. The stock is still about 60 per cent below its 2021 peak, but analysts see a bull case building after the company’s latest update. Meta’s market value was US$397 billion as of Wednesday’s close.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Meta mojo is back: Earnings surprise sparks share surge, lifts Big TechFacebook owner floored Wall Street by slashing its spending forecast and boosting its stock buyback plan Check out verasitytech VRA just look at the technology backing it and the crazy staking rewards! How can you not love daily paid rewards of annually 15% The last few weeks it's had a great run!
Source: globeandmail - 🏆 5. / 92 Read more »

Meta shares soar as company cuts spending, forecasts upbeat first-quarter salesMeta Platforms Inc’s stricter cost controls this year and a new $40-billion share buyback sent shares soaring on Wednesday Sounds like their demographic of boomers hasn't quite dried up yet Empty balloon on market For integrated shares Fakeness and scum is target Attract a foolish lambs... You mean fired all their staff?
Source: globeandmail - 🏆 5. / 92 Read more »