Truist Financial analyst Youssef Squali maintains $Meta Platforms (META.US)$ with a buy rating, and sets the target price at $650.
According to TipRanks data, the analyst has a success rate of 55.0% and a total average return of 12.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Meta Platforms (META.US)$'s main analysts recently are as follows:
The firm is modifying its estimates to account for the significant immediate impact from political advertising and the uncertainties surrounding TikTok's regulatory status. However, the firm cautions that, according to its in-depth ad industry analysis, the revenue momentum Meta Platforms previously enjoyed is diminishing, and there is a noticeable softening within the Consumer Packaged Goods and Leisure sectors. Additionally, it is noted that the firm's projections for the company's capital expenditures in FY25 stand at $50 billion, in contrast to the general market expectation of $46 billion.
The firm's evaluations indicate that the advertising market continued to perform robustly in the third quarter. Along with advantageous shifts in several major currencies, it is anticipated that there will be an outperformance relative to the Street's revenue and profitability projections for Meta Platforms. Furthermore, it is projected that product developments at Meta will likely maintain strong growth going into 2025.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
