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Meta Platforms:Quarterly Results/2024 Q3: Difference between revisions
Meta Platforms:Quarterly Results/2024 Q3 (view source)
Revision as of 08:52, 23 October 2024
, 23 October 2024→Analysts opinions and insights
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* Buy, $600->$650: Raymond James said (October 10) their checks indicate that in Q3 there was an upside growth of 1% to 1.5% in total ad spending with outperformance skewed towards Meta and Google<ref>https://thefly.com/permalinks/entry.php/id3996315/META-Meta-Platforms-price-target-raised-by--at-Raymond-James-heres-why</ref>. | * Buy, $600->$650: Raymond James said (October 10) their checks indicate that in Q3 there was an upside growth of 1% to 1.5% in total ad spending with outperformance skewed towards Meta and Google<ref>https://thefly.com/permalinks/entry.php/id3996315/META-Meta-Platforms-price-target-raised-by--at-Raymond-James-heres-why</ref>. | ||
* Buy, $570->$650: Truist said there was sustained social ad demand and higher CPM in Q3 | * Buy, $570->$650: Truist said there was sustained social ad demand and higher CPM in Q3<ref name=":6">https://thefly.com/permalinks/entry.php/id3996252/META-Meta-Platforms-price-target-raised-by--at-Truist-heres-why</ref>. | ||
* Buy, $475->$520: BMO said (October 9) their are seeing outsized near-term contributions from political advertising as well as regulatory TikTok uncertainty<ref name=":0">https://thefly.com/permalinks/entry.php/id3995605/META-Meta-Platforms-price-target-raised-by--at-BMO-Capital-heres-why</ref>. | * Buy, $475->$520: BMO said (October 9) their are seeing outsized near-term contributions from political advertising as well as regulatory TikTok uncertainty<ref name=":0">https://thefly.com/permalinks/entry.php/id3995605/META-Meta-Platforms-price-target-raised-by--at-BMO-Capital-heres-why</ref>. | ||
* Overweight: $660->$670: Cantor Fitzgerald said the ad checks were strong in the past few months and the underlying drivers have a long runway. They expect categories such as travel to lift Meta further. However, they see upside expectations as elevated due to recent outperformance. They pointed out that Q4 revenue guidance of $48 billion is needed for the shares to outperform on the print<ref name=":1">https://thefly.com/permalinks/entry.php/id3995567/META-Meta-Platforms-price-target-raised-by--at-Cantor-Fitzgerald-heres-why</ref>. | * Overweight: $660->$670: Cantor Fitzgerald said the ad checks were strong in the past few months and the underlying drivers have a long runway. They expect categories such as travel to lift Meta further. However, they see upside expectations as elevated due to recent outperformance. They pointed out that Q4 revenue guidance of $48 billion is needed for the shares to outperform on the print<ref name=":1">https://thefly.com/permalinks/entry.php/id3995567/META-Meta-Platforms-price-target-raised-by--at-Cantor-Fitzgerald-heres-why</ref>. | ||
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=== AI tools are boosting meta platforms ROI === | === AI tools are boosting meta platforms ROI === | ||
* Buy, $630: Bofa said their checks indicate Meta may benefit from new AI tools and new CRM integration. "Continued ROI improvements driving strong advertiser share gains," BofA said in a note<ref name=":5">https://www.marketscreener.com/quote/stock/META-PLATFORMS-INC-10547141/news/Meta-Platforms-Likely-to-Deliver-Q3-Beat-BofA-Says-48131538/</ref>. | * Buy, $630: Bofa said their checks indicate Meta may benefit from new AI tools and new CRM integration. "Continued ROI improvements driving strong advertiser share gains," BofA said in a note<ref name=":5">https://www.marketscreener.com/quote/stock/META-PLATFORMS-INC-10547141/news/Meta-Platforms-Likely-to-Deliver-Q3-Beat-BofA-Says-48131538/</ref>. | ||
* Truist said Meta's AI investments continue to drive better ranking and recommendations for users and advertisers<ref name=":6" />. | |||
=== Meta to benefit from growing monetization of Reels and Messaging === | === Meta to benefit from growing monetization of Reels and Messaging === | ||