J.P. Morgan analyst Doug Anmuth maintains $Meta Platforms (META.US)$ with a buy rating, and maintains the target price at $640.
According to TipRanks data, the analyst has a success rate of 62.1% and a total average return of 18.5% 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 projections to take into account significant short-term contributions from political advertising spend, along with the uncertain environment surrounding TikTok, as per an analyst's research. However, there's a cautionary note that channels specialized in advertising suggest that the one-time revenue boosts for Meta are diminishing, and that consumer packaged goods and leisure sectors are showing signs of weakening. It's also highlighted that the firm's own capital expenditure predictions for the company in FY25 are higher compared to the general consensus.
The resilience of the ad market in Q3, along with positive shifts in various crucial currencies, suggests potential outperformance of revenue and profitability expectations for Meta Platforms. It is anticipated that ongoing product development cycles will continue to drive robust growth for the company into 2025.
Note:
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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.
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