1 Wall Street Analyst Thinks Meta Platforms Stock Is Going to $565. Is It a Buy?
Meta Platforms (NASDAQ: META) delivered first-quarter financial results above expectations, but the stock tumbled after management said it was going to ramp up spending to support growth initiatives. This clouds the near-term outlook for the company's profits, which is why the stock is falling.
Bernstein lowered its price target from $590 to $565 but maintained an outperform (buy) rating on the shares. Here's why the dip could be a great buying opportunity.
Meta reported solid numbers across the board. Revenue grew 27% year over year, and higher margins boosted earnings per share by 114%. However, the company's investments in artificial intelligence (AI) initiatives will come at a cost that could put the brakes on earnings growth in the near term.
Source Fool.com
Meta Platforms Inc. Stock
With 14 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 515 € there is a positive potential of 22.66% for Meta Platforms Inc. compared to the current price of 419.85 €.
