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Meta Platforms:Quarterly Results/2024 Q3: Difference between revisions
Meta Platforms:Quarterly Results/2024 Q3 (view source)
Revision as of 13:31, 17 October 2024
, 17 October 2024→Ad spending rebounded further in Q3 and Meta remains the top destination for ad dollars.
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* Buy, $635->$690: UBS said though there was a slow start in ad spend in Q3, there was a pick up in August and September aided by political advertising. Ad spend also benefitted from brand advertising recovery<ref>https://thefly.com/permalinks/entry.php/id3994132/META-Meta-Platforms-price-target-raised-by--at-UBS-heres-why</ref>. ''"Budget growth accelerates throughout 3Q24: Despite a slower start, ad budgets accelerated in Aug into Sep citing uplift from political, brand advertising recovery, and improved consumer sentiment; and while most verticals ramped through 3Q24, we note particular strength in auto and CPG. Meta/Instagram and Google/YouTube both benefited from political spend and optimization/efficiencies unlock from automation and a greater share of budgets moving through Performance Max and Advantage+."''<ref>https://seekingalpha.com/article/4726568-meta-platforms-earnings-revenue-upside-social-media-empire-looks-exhausted</ref> | * Buy, $635->$690: UBS said though there was a slow start in ad spend in Q3, there was a pick up in August and September aided by political advertising. Ad spend also benefitted from brand advertising recovery<ref>https://thefly.com/permalinks/entry.php/id3994132/META-Meta-Platforms-price-target-raised-by--at-UBS-heres-why</ref>. ''"Budget growth accelerates throughout 3Q24: Despite a slower start, ad budgets accelerated in Aug into Sep citing uplift from political, brand advertising recovery, and improved consumer sentiment; and while most verticals ramped through 3Q24, we note particular strength in auto and CPG. Meta/Instagram and Google/YouTube both benefited from political spend and optimization/efficiencies unlock from automation and a greater share of budgets moving through Performance Max and Advantage+."''<ref>https://seekingalpha.com/article/4726568-meta-platforms-earnings-revenue-upside-social-media-empire-looks-exhausted</ref> | ||
* Buy, $600->$665: Guggenheim said Meta remains the top destination for ad dollars as seen in Q3<ref name=":2">https://thefly.com/permalinks/entry.php/id3994035/META-Meta-Platforms-price-target-raised-by--at-Guggenheim-heres-why</ref>. | * Buy, $600->$665: Guggenheim said Meta remains the top destination for ad dollars as seen in Q3<ref name=":2">https://thefly.com/permalinks/entry.php/id3994035/META-Meta-Platforms-price-target-raised-by--at-Guggenheim-heres-why</ref>. | ||
* Buy, $600->$650: Mizuho said their advertising tracking from major ad platforms indicate that online spending remained resilient in Q3 despite mixed signals from consumer spending<ref>https://thefly.com/permalinks/entry.php/id3999881/META-Meta-Platforms-price-target-raised-by--at-Mizuho-heres-why</ref>. | |||
=== Meta to report solid results in Q3 2024 === | === Meta to report solid results in Q3 2024 === | ||