Meta Platforms Inc. (META:NSD) Facing Challenges in European Antitrust Investigation

Meta Platforms Inc. Stock Forecast:

According to 51 analysts, the average target price for Meta Platforms Inc. (formerly known as Facebook, Inc.) over the next 12 months is estimated to be USD 235.90. The average analyst rating for the company is Strong Buy. Stock Target Advisor‘s own analysis of Meta Platforms Inc. suggests a slightly bullish outlook, based on 8 positive signals and 6 negative signals. As of the last closing, the stock price of Meta Platforms Inc. was USD 246.74. Over the past week, the stock price has increased by +3.32%, over the past month it has risen by +15.90%, and there has been no change in the stock price over the last year.

META Ratings by Stock Target Advisor

Meta Platforms News:

Meta Platforms Inc., formerly known as Facebook, has encountered a significant setback as Europe’s second-top court ruled in favor of the European Union’s antitrust watchdog’s requests for information pertaining to its ongoing investigation into Facebook’s data and online marketplace practices. The ruling, which deemed the requests legitimate, highlights the mounting pressure faced by the tech giant in Europe’s regulatory landscape. In response to the court’s decision, a spokesperson for Meta criticized the European Commission, comparing its actions to a data vacuuming super trawler. The company expressed its intention to explore alternative courses of action.

The European Union has been actively pursuing antitrust investigations into the practices of major tech companies, aiming to ensure fair competition, protect user data, and preserve market dynamics. In this case, the European Commission’s request for information from Meta Platforms Inc. has been deemed valid by the court, signaling that the investigation is moving forward.

One of the key concerns raised by Meta is the protection of sensitive personal data. The court ruling emphasized that Meta had not adequately demonstrated that establishing a virtual data room failed to provide sufficient protection for such information. (https://vallartainfo.com/) The protection of user data has become a paramount concern for regulatory bodies worldwide, and this ruling underscores the importance of upholding data privacy standards throughout the investigation.

Meta Platforms Inc. has expressed its reservations about the necessity and proportionality of the data requests made by the European Commission. The company has argued that it has already provided over a million documents since 2019, questioning the extent to which further data is required for the investigation. This perspective aligns with a growing sentiment among several companies that have criticized similar data requests, emphasizing the need for clarity and transparency in the investigatory processes.

 

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