Meta Platforms’ (META) social network, Threads, now boasts 275 million monthly active users (MAUs). Adam Mosseri, who heads Threads and Instagram at Meta, stated this and expressed gratitude on social media.
Meta’s Threads Has Seen Remarkable Growth
Meta launched the Threads platform in July 2023 to attract users who were leaving social media platform X after Elon Musk bought it. Ever since, the platform has experienced remarkable growth.
Threads reached 150 million MAUs by April and climbed to 200 million by August, adding 75 million users within three months. In fact, last week, during Meta’s Q3 earnings call, the company’s CEO Mark Zuckerberg revealed that 1 million new users are joining Threads daily.
Additionally, the company’s management stated on the earnings call that this platform was seeing rising user engagement. In the third quarter, Threads saw “strong user growth in key markets like the US, Taiwan, and Japan.” Furthermore, the company is adding more features to Threads including enabling the saving of multiple drafts and offering businesses and content creators account insights to see how their posts are performing.
What Is the Target Price of Meta?
Analysts remain bullish about META stock, with a Strong Buy consensus rating based on 41 Buys, three Holds, and one Sell. Year-to-date, META has increased by more than 55%, and the average META price target of $654.23 implies an upside potential of 15.4% from current levels.
