Meta shares rocket 20% on solid earnings: Analyst sees 'enticing' valuation

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Meta shares rocket 20% on solid earnings: Analyst sees 'enticing' valuation
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Meta Platforms saw a slew of analyst upgrades as shares rose nearly 20% off the backs of a better-than-anticipated earnings report and optimistic commentary.

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Meta shares sit at their highest point since Sept. 2022, weeks before areport that prompted analysts across Wall Street to openly question Zuckerberg's leadership. There was a markedly changed tone in analyst notes on Wednesday night and Thursday morning, however, with the company beating topline estimates with $32.17 billion in revenue.

"Does META Really Deserve To Be Up 20% In The After-Market?!" posited Evercore ISI analyst Mark Mahaney. In a word, Mahaney wrote, "Yes." He cited "materially reduced expense projections" and a larger-than-anticipated share buyback, upping his price target to $275 and reiterating an outperform rating.

Rosenblatt's Barton Crockett took his rating for Meta to a buy, setting a $220 price target and saying he was convinced by a now "enticing" valuation. At Guggenheim, Michael Morris revised their price target to $210, maintaining a buy rating, citing in part lowered costs and a belief in management messaging on "momentum."

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Meta permabear CNBC losing grip on its favorite tech pinata?

solid earnings or $40B in stock buybacks? yall stank

Some feel with Twitter out of the barn META had to become the go to place for Democrat Money.

HAHAHAHA, yeah, that never happened.

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Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Meta stock spikes nearly 20% as cost cuts and $40 billion for investors overshadow earnings missMeta stock spikes nearly 20% as cost cuts and $40 billion for investors overshadow earnings missMeta shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts.
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