Meta Platforms (META) has won a high-profile antitrust case brought by the Federal Trade Commission (FTC) over its acquisitions and control of social media platforms Instagram and WhatsApp.
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The outcome of the case was uncertain and its resolution comes seven months after the antitrust trial into the matter began. During the trial, several high-level executives at Meta Platforms, including CEO Mark Zuckerberg, gave testimony.
A judge in Washington, D.C. has now determined that Meta Platforms does not have a monopoly in the social media and social networking marketplace. The FTC claimed that Meta shouldn’t have been allowed to buy Instagram in 2012 and WhatsApp in 2014, saying it concentrated the social media market in the company’s hands. Meta Platforms also owns Facebook.
Positive News for Meta
Is META Stock a Buy?
The stock of Meta Platforms has a consensus Strong Buy rating among 42 Wall Street analysts. That rating is based on 34 Buy, seven Hold, and one Sell recommendations issued in the last three months. The average META price target of $846.48 implies 42.87% upside from current levels.
