Meta Platforms ( (META) ) has been popular among investors this week. Here is a recap of the key news on this stock.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Meta Platforms is gearing up to announce its third-quarter results with analysts expressing optimism about the company’s performance. Truist analyst Youssef Squali has raised the price target for Meta’s stock to $900, citing strong user engagement and improved monetization driven by AI enhancements. Similarly, Stifel’s Mark Kelley maintains a Buy rating with the same price target, highlighting Meta’s long-term potential and the continued strength of Instagram. Wall Street anticipates Meta’s earnings per share to grow by 11.4% year-over-year, with a revenue increase of 22% to $49.48 billion.
In addition to financial prospects, Meta Platforms is facing scrutiny from the European Commission for allegedly violating the EU’s Digital Services Act. The company is accused of not providing adequate data access to researchers and complicating the process for users to report illegal content. Meta has denied these allegations, asserting compliance with EU regulations. If found in violation, Meta could face substantial fines. Despite these challenges, analysts remain bullish, with a Strong Buy consensus and a projected 20% upside potential for Meta’s stock.