Over at Oppenheimer, analyst Jason Helfstein reminds clients that Meta Platforms remains the world's largest social networking company, with 3.7 billion monthly users across all properties. "Overall, while trends remain choppy and are also pressured by macroeconomics, we are at least hearing some early anecdotes of marketers and agencies bringing ad dollars back to Meta due to its scale and still strong return on investment," the analyst says. It could also be the case that recent revenue troubles are stabilizing at Meta Platforms, as Anmuth contends.Ītlassian Is a Zombie Stock Set to Go to Zero, Noted Tech Bear Says
META stock is up 3.1% over the past month, vs. It's just possible, however, that valuation has finally put something of a floor under shares. In META's case, not too long ago it looked more like trying to catch a falling Guillotine blade with your neck. True, there's a Wall Street cliche warning folks about buying a stock when it's collapsing as META is: Don't try to catch a falling knife. Meanwhile, the Street's average price target of $154.19 gives META stock implied upside of about 28% in the next 12 to 18 months. That works out to a consensus recommendation of Buy, with fairly high conviction. Additionally, one analyst slaps a rare Strong Sell recommendation on shares. Of the 56 analysts issuing opinions on META stock tracked by S&P Global Market Intelligence, 27 rate it at Strong Buy, 10 say Buy, 16 have it at Hold and two call it a Sell. The analyst also raised his price target to $150 a share from $115, which gives META stock implied upside of about 24% in the next 12 months or so.Īnd Anmuth is hardly alone in his ardor for the Facebook parent. "eading into 2023, we believe some of these top- and bottom-line pressures will ease, and most importantly, Meta is showing encouraging signs of increasing cost discipline, we believe with more to come," Anmuth writes in a note to clients. Stocks get beaten down beyond reason when emotions overwhelm a focus on the fundamentals.Īnmuth, and many of his colleagues on the Street, say that the above is indeed the case with META stock. Selloffs are frequently overdone, after all.
Users can sign up with their existing handles on Instagram and are able to retain some of their following as others sign up for the app.The 25 Cheapest Places to Live: U.S. The booming growth on Threads is helped by the fact that it is tied to an existing social network, Meta's Instagram.
Meta didn't offer additional comment beyond Zuckerberg's post. Twitter responded to CNBC's request for comment with an automated response. The company said Twitter's web traffic is down 11% compared with the same days in 2022.
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Matthew Prince, CEO of Cloudflare, shared a screenshot to Twitter Sunday showing that traffic on the platform was "tanking."Īccording to Similarweb, a data company that specializes in web analytics, web traffic to Twitter was down 5% for the first two full days Threads was generally available compared with the previous week. Can't believe it's only been 5 days!" Meta CEO Mark Zuckerberg said in a post Monday. That's mostly organic demand and we haven't even turned on many promotions yet. "Threads reached 100 million sign ups over the weekend. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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