Justin Post, an analyst from Bank of America Securities, reiterated the Buy rating on Meta Platforms (META – Research Report). The associated price target remains the same with $640.00.
Justin Post has given his Buy rating due to a combination of factors that suggest a positive outlook for Meta Platforms. The company is expected to achieve the high end of its first-quarter revenue guidance, with anticipated revenues of $41.8 billion, slightly above the Street estimate of $41.4 billion. This optimism is supported by management’s focus on controlling operating costs, as evidenced by recent workforce reductions, which could lead to a higher earnings per share than expected.
Additionally, Post highlights the potential for Meta’s AI-driven advertising improvements to continue driving growth over the coming quarters. The company is also poised to benefit from expanding AI and machine learning ad capabilities, increased usage of short-form videos, and monetization of new platforms like Threads and Marketplace. With these growth drivers and a valuation that appears attractive compared to the broader market, Post reiterates a Buy rating for Meta Platforms.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $600.00 price target.
Based on the recent corporate insider activity of 296 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.