John Blackledge, an analyst from TD Cowen, maintained the Buy rating on Meta Platforms. The associated price target was raised to $800.00.
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John Blackledge has given his Buy rating due to a combination of factors including Meta’s expected revenue and earnings performance, as well as its strategic investments in AI. The company is anticipated to surpass consensus estimates for the second quarter, with a projected revenue growth of 16% year-over-year, driven by enhanced video monetization and increased user engagement.
Furthermore, Meta’s significant investments in AI, including the establishment of a Superintelligence unit and high-profile hires from leading tech companies, are seen as pivotal in bolstering its core advertising business and developing Business AI tools. These strategic moves are expected to support long-term growth, leading to an increase in future revenue estimates and a raised price target. The easing of tariff concerns has also contributed to a lowered discount rate, further enhancing the stock’s appeal.
According to TipRanks, Blackledge is a 5-star analyst with an average return of 13.6% and a 59.88% success rate. Blackledge covers the Communication Services sector, focusing on stocks such as Netflix, Alphabet Class C, and Meta Platforms.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $783.00 price target.