DBS analyst Sachin Mittal has maintained their bullish stance on META stock, giving a Buy rating today.
Sachin Mittal has given his Buy rating due to a combination of factors including Meta Platforms’ strong financial performance and strategic initiatives. The company reported impressive earnings and revenue growth, significantly surpassing market expectations. This was partly due to reduced legal costs and successful monetization efforts, particularly with its Reels feature, which has seen a substantial increase in user engagement and monetization.
Furthermore, Meta’s substantial investment in artificial intelligence and machine learning is expected to enhance its product offerings and drive future growth. The company’s commitment to developing the Metaverse and its advancements in AI technology, such as the upcoming Llama 4, are seen as long-term growth drivers. Despite some risks associated with increased operational expenses and changes in content moderation strategies, Meta’s strategic direction and market position justify the Buy rating with a revised target price of USD 608.
In another report released today, CMB International Securities also maintained a Buy rating on the stock with a $760.00 price target.
Based on the recent corporate insider activity of 295 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.