) is next on our list. Meta has rebounded this year after a disastrous run in 2022. Its problems last year were due to a slowdown in online advertising spend and the mounting losses of the company's Reality Labs division — which includes its metaverse projects.
Despite weak earnings, the stock spiked in reaction to recent results, as investors cheered Meta's cost control measures and a $40 billion increase in its share repurchase authorization. Meta already had nearly $11 billion remaining under its existing buyback plan.highlighted that Meta's "most valuable asset" is its huge and growing user base. Daily Active People or DAP rose 5% to 2.96 billion in the fourth quarter.
Furthermore, Feinseth projects that Meta's performance will be fueled by a "new, more cost-efficient data center structure" that is competent in supporting artificial intelligence and non-AI workloads. Feinseth increased his price target for Meta to $285 from $260 and reiterated a buy rating as he believes it can outperform rivals due to its massive user base and the ability to generate significantly higher returns for advertisers.
Feinseth currently stands at #126 among over 8,300 analysts on TipRanks. Moreover, 65% of his ratings have been successful, with each generating a 13.5% average return. Digital transformation, the accelerated shift to the cloud and geopolitical tensions have triggered an increase in cyber threats, driving demand for cybersecurity companies like
Top Wall Street analysts have as good a chance at picking the best stocks as your kids. Buy an index fund and call it a day.
If $CMG is 1 of them they must not eat there. Was a great place 10 years ago…
Bullish.
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