Benchmark Co. analyst Mark Zgutowicz reiterated a Buy rating on Meta Platforms today and set a price target of $890.00.
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Mark Zgutowicz has given his Buy rating due to a combination of factors that highlight Meta Platforms’ strong performance and future potential. The company’s recent quarterly results exceeded expectations, showcasing robust revenue and earnings growth driven by strategic investments in AI technology. This has led to an increase in Meta’s projected U.S. digital advertising market share, reflecting confidence in its ability to capitalize on AI advancements.
Moreover, Meta’s commitment to substantial capital expenditures in AI infrastructure, with plans to invest hundreds of billions of dollars, underscores its ambition to lead in Artificial Superintelligence development. While the returns on these investments are expected to materialize over a longer horizon, the company’s focus on diversifying revenue streams beyond advertising, such as through innovations in autonomous research and hardware, positions it well for sustained growth. These strategic initiatives, combined with improvements in content recommendation systems, reinforce the Buy rating as Meta continues to expand its capabilities and market presence.
In another report released today, D.A. Davidson also maintained a Buy rating on the stock with a $825.00 price target.
Based on the recent corporate insider activity of 289 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of META in relation to earlier this year.