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Meta Platforms:Quarterly Results/2024 Q1: Difference between revisions
Meta Platforms:Quarterly Results/2024 Q1 (view source)
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* Meta expects 2024 tax rate to be in the mid-teens, that's absent to any changes in the U.S Tax Law. | * Meta expects 2024 tax rate to be in the mid-teens, that's absent to any changes in the U.S Tax Law. | ||
== Analysts | == Analysts Opinions == | ||
=== Monetization and impression volumes are improving === | |||
* Buy, $525->$550: Truist sees (April 17, 2023) improving monetization after two years of compression. They also see higher impression volume and growth in "must-buy status" within the digital ad ecosystem as cookie deprecation continues and the macro environment remains volatile. As such, they are raising their forecast for 2024 revenue to $158.7 billion from $156.9 billion. They pointed out that Meta's huge investments in AI are yielding better ranking and recommendation results for advertisers<ref>https://thefly.com/landingPageNews.php?id=3898255&headline=META-Meta-Platforms-price-target-raised-by--at-Truist-heres-why&utm_source=https://thefly.com/news.php%3fsymbol=META&utm_medium=referral&utm_campaign=referral_traffic</ref>. | |||
* Buy, $525->$590: Citi said (April 15, 2024) that their tracker indicates that Reels ad loads grew by 90 basis points QoQ to 20% as engagement continues to improve. They expect Reels ad load will continue to improve amid newer ad innovations, new artificial intelligence video architecture and greater advertiser adoption<ref>https://thefly.com/landingPageNews.php?id=3896683&headline=META-Meta-Platforms-price-target-raised-by--at-Citi-heres-why&utm_source=https://thefly.com/news.php%3fsymbol=META&utm_medium=referral&utm_campaign=referral_traffic</ref>. | |||
* Buy, $525->$600: Piper Sandler said (April 11, 2023) their data checks were again positive. They see impressions roughly in-line with Q4 2023 and pricing flat year-over-year<ref>https://thefly.com/landingPageNews.php?id=3895520&headline=META-Meta-Platforms-price-target-raised-by--at-Piper-Sandler-heres-why&utm_source=https://thefly.com/news.php%3fsymbol=META&utm_medium=referral&utm_campaign=referral_traffic</ref>. | |||
=== The advertising environment continues to improve === | |||
* Buy, $527->$588: Stifel said (April 16, 2024) that their thoughts at the start of Q1 earnings remain "largely unchanged" that the advertising environment continues to improve, e-commerce continues to "hang in there," and subscription names "remain a mixed bag."<ref>https://thefly.com/landingPageNews.php?id=3897471&headline=META-Meta-Platforms-price-target-raised-by--at-Stifel-heres-why&utm_source=https://thefly.com/news.php%3fsymbol=META&utm_medium=referral&utm_campaign=referral_traffic</ref> | |||
* Buy, $500->$590: TD Cowen said (April 9, 2024) their digital ad check was positive, hence they raised their revenue estimates for Q1 2024 and 2024-2029 by 1%-4%<ref>https://thefly.com/landingPageNews.php?id=3894073&headline=META-Meta-Platforms-price-target-raised-by--at-TD-Cowen-heres-why&utm_source=https://thefly.com/news.php%3Fsymbol=META&utm_medium=referral&utm_campaign=referral_traffic</ref>. | |||
* Buy, $609->$600: Wells Fargo said their advertising checks suggest continued strong growth<ref>https://thefly.com/permalinks/entry.php/id3890933/META-Meta-Platforms-price-target-lowered-by--at-Wells-Fargo-heres-why</ref>. | |||
== References == | == References == | ||