Meta Platforms Inc. Stock Forecast:
Based on the forecasts of 51 analysts, the average target price for Meta Platforms Inc. (formerly known as Facebook) is USD 245.16 over the next 12 months. The average analyst rating for the company is Strong Buy. According to Stock Target Advisor‘s analysis, they have a Slightly Bullish outlook on Meta Platforms Inc., considering 8 positive signals and 6 negative signals.
As of the last closing, Meta Platforms Inc.’s stock price was USD 278.47. Over the past week, the stock price has experienced a decrease of -0.90%. However, it has shown positive growth of +6.27% over the past month and an impressive +63.65% growth over the last year.
Analysts Coverage Change:
Citigroup (RANK #14) maintains Meta Platforms (META:NSD) with a “Buy” rating and raises the target price to $360 from $315 on the company’s stock.
Meta Platforms Inc. News:
In a recent announcement, Meta Platforms Inc.’s CEO, Mark Zuckerberg, revealed that the company’s WhatsApp Business application has experienced exponential growth, surpassing 200 million users on its platform. This significant milestone marks a four-fold increase from just three years ago and demonstrates the growing importance of business messaging for Meta.
The surge in WhatsApp Business users comes at a time when Meta is shifting its focus towards the development of business messaging, in response to the challenges posed by an uncertain economy, which has impacted its core advertising business. As businesses face economic headwinds and seek alternative ways to engage with customers, Meta recognizes the potential of business messaging to provide a direct and efficient means of communication.
WhatsApp Business was launched in 2018 as a separate application tailored to meet the needs of small and medium-sized enterprises (SMEs). It offers a range of features designed to enhance customer interactions, such as automated greetings, quick replies, and catalog integration for showcasing products and services. The platform empowers businesses to establish a professional presence on WhatsApp and enables seamless communication with customers.
With the rapid adoption of WhatsApp Business, Meta is now poised to further enhance its capabilities and provide additional value to businesses. In line with this vision, Meta has announced plans to test new features that will enable small businesses to run advertisements that click directly to the messaging platform, without requiring a Facebook account. This development is significant as it streamlines the advertising process, making it more accessible and user-friendly for businesses seeking to leverage WhatsApp Business as a marketing channel.
