Stocks Analysis by MarketBeat.com (Thomas Hughes) covering: Meta Platforms Inc, Facebook Inc, Meta Platforms Inc BDR, BNP PARIBAS ARBITRAGE ISSUANCE BV Put 180.75 USD FACEBOOK 31Dec99. Read MarketBeat.com (Thomas Hughes)'s latest article on Investing.
Analysts see this stock trading well above the 2023 highs; it's only a matter of time before the rebound begins.). The technical picture is more than suggestive and points to an overextended market needing correction. However, given the rapid uptick in valuation, the Q3 results, and the outlook for next year, it is more likely to be a sideways consolidation than a deep, full-blown correction. The rally will continue in 2024 if it doesn’t regain traction in 2023.
The revenue gains were driven by a 7% increase in systemwide monthly and daily active users, with Facebook users growing 5% and 3%. More importantly, ad impressions surged by 31% to more than offset the 6% decline in average ad price. On an app-by-app basis, Reels and Threads are producing for the company, with Reels hitting break even and Threads sustaining user counts near 100 million.As strong as the user counts and ad metrics are, the margin news is even better.
The freshest analyst stock price targets are well above the consensus estimate and the 2023 highs. Assuming the analysts maintain their ratings and price targets, this stock should rebound soon. Assuming the analysts begin to raise their targets, the stock should rebound soon; and vigorously.Meta stock is at the top, but the market is not reversing.
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