Meta Reports First Quarter 2024 Results

Meta Platforms Inc. (META) PT Raised to $562 at Rosenblatt, 'Squishy-ish guidance'

April 25, 2024 6:31 AM UTC

Rosenblatt analyst Barton Crockett raised the price target on Meta Platforms Inc. (NASDAQ: META) to $562.00 (from $520.00) while maintaining a Buy rating.

The analyst comments "Squishy-ish guidance -- The revenue growth outlook for 2Q24 -- up 14% to 22% Y/Y -- is strong, but decelerating, reflective of comps that get 8 percentage points tougher Q/Q, and also of a 3 percentage point tougher foreign exchange backdrop and the lack of 1Q24's... More

Meta Platforms Inc. (META) PT Raised to $520 at MoffettNathanson, 'a more attractive entry point for Meta investors'

April 25, 2024 6:23 AM UTC

MoffettNathanson analyst Michael Nathanson raised the price target on Meta Platforms Inc. (NASDAQ: META) to $520.00 (from $185.00) while maintaining a Buy rating.

The analyst comments "Management guided to second quarter 2024 revenues in the range of $36.5 to $39 billion, which at the midpoint of $37.75 billion implies year-over-year growth of +18%. Yes, that is a marked deceleration from the... More

Meta Platforms Inc. (META) PT Lowered to $500 at Deutsche Bank

April 25, 2024 5:32 AM UTC

Deutsche Bank analyst Leo Horowitz lowered the price target on Meta Platforms Inc. (NASDAQ: META) to $500.00 (from $540.00) while maintaining a Buy rating.

The analyst comments "Meta is entering an investment cycle. We have been here a couple of times before, and each time it ended the same waygood for META's longer-term equity value. This time, Meta is making bigger investments in AI than we anticipated, which will likely result in Capex being much higher, for far... More

Meta Platforms Inc. (META) PT Raised to $510 at Roth/MKM, 'Buy On Weakness; AI Moat Now Deeper'

April 25, 2024 4:58 AM UTC

Roth/MKM analyst Rohit Kulkami raised the price target on Meta Platforms Inc. (NASDAQ: META) to $510.00 (from $500.00) while maintaining a Buy rating.

The analyst comments "META shares were down as much as -15% last night despite a clean beat on 1Q expectations and... More

Meta Platforms Inc. (META) PT Lowered to $570 at RBC Capital

April 25, 2024 4:45 AM UTC

RBC Capital analyst Brad Erickson lowered the price target on Meta Platforms Inc. (NASDAQ: META) to $570.00 (from $600.00) while maintaining a Outperform rating.

The analyst comments "META's Q1 was solid in terms of top-line/ad demand trends - the issue is an accelerated, multi-year AI... More

Goldman Sachs on Meta Platforms Inc. (META): 'We expect investors to have an initial negative reaction'

April 24, 2024 4:56 PM UTC

Goldman Sachs analyst Eric Sheridan reiterated a Buy rating and $555.00 price target on Meta Platforms Inc. (NASDAQ: META).

The analyst comments "We expect investors to have an initial negative reaction to META's Q1 24 earnings report as the Q1 results were broadly inline but a mixture of more muted revenue forecast for Q2, narrowing its opex FY guide by increasing the bottom end of the range and shifting its capex... More

Evercore ISI Believes Meta Platforms Inc. (META) is Down Due to High Expectations into the Print

April 24, 2024 4:51 PM UTC

Evercore ISI analyst Mark Mahaney reiterated an Outperform rating and $550.00 price target on Meta Platforms Inc. (NASDAQ: META).

The analyst comments "Quick Look At Q1 Results: META printed a Beat & Bracket quarter, with Revenue up 27% Y/Y (both reported basis and ex-FX), 1% above the Street, Op Income (implying 37.9% margin) 4% above the Street, and EPS at... More

RBC Capital Comments on Meta Platforms Inc. (META) Earnings

April 24, 2024 4:46 PM UTC

RBC Capital analyst Brad Erickson reiterated an Outperform rating and $600.00 price target on Meta Platforms Inc. (NASDAQ: META).

The analyst comments "META reports in-line revs; EPS ahead of Street. The company reported revenue at the high-end of its guidance (27%) which was slightly ahead of sell-side consensus and we estimate roughly in-line with buy-side expectations. Growth was driven by a healthy mix of impressions being up 20% while price/ad was up 6% (directionally squares with our ad load analysis coming in). The company has... More

Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance

April 24, 2024 4:06 PM UTC

Meta Platforms (NASDAQ: META) reported Q1 EPS of $4.71, $0.39 better than the analyst estimate of $4.32. Revenue for the quarter came in at $36.46 billion versus the consensus estimate of $36.14 billion.

Family daily active people (DAP) DAP was 3.24 billion on average for March 2024, an increase of 7%... More