Analysts raise targets on news of Meta Platforms (META:NSD) “Year of Efficiency”

Meta Materials Stock

Meta Platforms Inc. Stock Forecast:

According to predictions from 66 analysts, the expected average price for Meta Platforms Inc. stock in the next year is USD 187.71. The consensus among analysts is that the stock is a Strong Buy. Stock Target Advisor has also analyzed the stock and determined it to be Slightly Bullish, based on 8 positive signals and 4 negative signals. As of the last market close, the stock was trading at USD 194.02, which is up by 5.15% over the past week, 8.10% over the past month, and unchanged over the last year.

META Ratings by Stock Target Advisor

Analysts Coverage Change:

  • Raymond James maintains an “Outperform” rating for Meta Platforms and raises the price target to $238 from $220.
  • Citigroup maintains  a “Buy” rating and raises the price target to $260 from $228.
  • Mizuho Securities maintains a “Buy” rating and raises the price target to $235 from $210.
  • Robert W. Baird & Co. maintains an “Outperform” rating and raises the price target to $220 from $205.
  • Bank of America Merrill Lynch maintains a “Buy” rating and raises the price target to $230 from $220.

Meta Platform News:

Meta CEO Mark Zuckerberg announced on Tuesday that the company is planning to cut 10,000 employees as part of its efforts to streamline operations and increase efficiency. This comes just a few months after the company laid off over 11,000 employees in November.

Zuckerberg has referred to 2023 as Meta’s “year of efficiency,” and has been vocal about the need to cut projects that aren’t performing or are no longer crucial to the company’s overall goals. He has also emphasized the importance of removing layers of middle management in order to make decisions more quickly and effectively.

While the news of the job cuts is undoubtedly difficult for those affected, it is not entirely unexpected. Meta, like many other large tech companies, has been facing increased scrutiny in recent years over issues such as data privacy and misinformation on its platforms. In addition, the company has been facing increased competition from other social media platforms, as well as from newer technologies such as virtual and augmented reality.

Despite these challenges, Zuckerberg remains optimistic about Meta’s future. He has stated that the company’s focus on innovation and its commitment to building a more connected world will continue to drive its success in the years to come.

FA Score (Fundamental Analysis):

The fundamental analysis of Meta Platforms Inc. is “Slightly Bullish” with a A score of 6.7 out of 10, where 0 is very bearish and 10 is very bullish.

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