#Wall #Street #Thinks #Meta #Platforms #Stock #Ahead #Earnings
Key takeaways
- Meta’s latest results are due to arrive this afternoon with the company’s shares up nearly 70% this year.
- Wall Street analysts are overwhelmingly bullish on the stock, though they are currently calling for relatively little additional update.
- Of 30 analysts tracking shares of the parent company of Facebook and Instagram as of Wednesday morning, 28 had “buy” or equivalent ratings and two had “hold,” according to Visible Alpha data.
Shares of Meta Platforms (META) rose in early trading Wednesday ahead of the company’s next round of financial results, due after the bell.
The results are set to arrive with the company’s shares up nearly 70% this year — and Wall Street analysts are overwhelmingly bullish on the stock, though they are currently calling for relatively little additional update.
Of 30 analysts tracking shares of the parent company of Facebook and Instagram as of Wednesday morning, 28 had a “buy” or equivalent rating on the stock and two had a “hold,” according to Visible Alpha data.
Meanwhile, analyst price targets ranged from around $500 to $675. The average target, $613.72, represents a premium to Tuesday’s close of just over 3%. Meta stock recently rose about 0.3% to just over $595.
The meta results are due on the heels of last night’s report from Snapchat parent Snap (SNAP), whose shares recently rose nearly 16% after the company posted 15% year-over-year revenue growth last quarter and a narrower loss.
Here’s what you need to know about Meta’s upcoming earnings report.
#Wall #Street #Thinks #Meta #Platforms #Stock #Ahead #Earnings
