Is It Too Late to Buy Meta Platforms Stock?
With gains of 110% so far, Meta Platforms (NASDAQ: META) has been one of the tech sector's best-performing stocks this year. In addition to investors generally warming back up to companies with growth-dependent valuations, the social media giant's valuation has also benefited from better-than-expected earnings results and excitement surrounding its artificial intelligence (AI) initiatives.
But after such explosive gains in a relatively short period of time, is Meta stock still a worthwhile investment? If you're considering investing in the social media giant, read on for a look at positive and negative factors that could shape its performance.
Digital advertising companies are already facing macroeconomic headwinds, and many economists and stock market analysts now expect that the U.S. economy will enter into an official recession this year or next. Meta managed to increase revenue roughly 3% year over year in the first quarter, reaching more than $28.6 billion in sales, but it's possible that industry conditions will make it harder to grow.
Source Fool.com
Meta Platforms Inc. Stock
With 13 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 530 € there is a positive potential of 29.21% for Meta Platforms Inc. compared to the current price of 410.2 €.
