Since April 2020, most analysts have lowered their price targets for the firm. The highest 12-month Meta Platforms share price forecast from analysts was $375 and the lowest was $80. The analysts set an average META stock price target at $170.93 a share. Of 50 financial services companies rating the stock, 29 gave it a ‘buy’ rating, 18 ‘hold’ and three suggest a ‘sell’. The consensus recommendation from analysts surveyed by MarketBeat, as of 2 November 2022, was bullish. META stock price prediction: Analyst sentiment What’s next for the META projected stock price? Read on to learn the latest META stock outlook. We’re approaching 2023 with a focus on prioritisation and efficiency that will help us navigate the current environment and emerge an even stronger company.” “While we face near-term challenges on revenue, the fundamentals are there for a return to stronger revenue growth. “Our community continues to grow and I’m pleased with the strong engagement we’re seeing driven by progress on our discovery engine and products like Reels,” said Mark Zuckerberg, founder and CEO of Meta Platforms. Of that total, $695m came from the Reality Labs unit, the company’s metaverse-focused business segment. On 26 October 2022, Meta Platforms reported its financial results covering the third quarter of the 2022 fiscal year.ĭuring the three months ended 31 March, the company reported total revenues of $27.9bn, resulting in a 7% year-on-year jump. Meta Platforms fundamental analysis: Latest earnings The losses in its Virtual Reality (VR) division hit $2.8bn in the second quarter, even as its virtual reality hardware and software sales continue to grow. The company said its guidance reflects the “continuation of the weak advertising demand environment.” The company’s second-quarter financial results were dismal, with reported revenue of $452m, down from $695m in the first quarter. According to the company: “The new ticker symbol aligns with the company’s rebranding from Facebook to Meta.” In May 2022, Meta Platforms announced it was changing its ticker symbol to ‘META’, replacing the previous ticker ‘FB’ which had been used since the company’s initial public offering ( IPO) in 2012. This was the first time that such a deceleration had occurred in many years, with shares falling more than 26%. The decline accelerated in November and peaked in February 2022 after management made downbeat comments about the company’s future growth, and after Meta Platforms reported a slight decline in Facebook’s daily active users (DAU) in Q4 2021. Meta Platform’s downtrend began in September 2021 when the pandemic tailwind that had lifted the business’s performance faded on the back of mass vaccinations. What should this social media stock expect, considering the current environment and the management’s plans to reshape its business model? In this article, we analyse the latest Meta Platforms stock news along with its price action and fundamentals to outline plausible META stock projections for 2022 and beyond. Meanwhile, macroeconomic conditions in the US have worsened amid a high inflation rate of 8.2% which has prompted a risk-off attitude among market participants. Meta Platforms, formerly known as Facebook, has cited multiple headwinds that could negatively affect the business’s financial performance in the near term, including changes to Apple’s iOS privacy features and increased competition from other platforms such as TikTok and Snapchat. The stock’s losses have mirrored those of the tech-heavy Nasdaq 100 ( US100) index, with confidence in tech markets having plummeted and Meta’s drastic pivot toward the metaverse having concerned shareholders. As of 2 November 2022, stock is changing hands at $92.77. After a mass sell-off in late October, stock sank 24% to the lowest price since 2016. Meta Platforms’ (META) stock performance has seen little respite in the bearish environment so far this year. Will META prevail against current headwinds? – Photo: Jirapong Manustrong/
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