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."
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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Source: MarketWatch - 🏆 3. / 97 Read more »