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Meta Platforms:Quarterly Results/2023 Q2: Difference between revisions
Meta Platforms:Quarterly Results/2023 Q2 (view source)
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=== Analyst Expectations === | === Analyst Expectations === | ||
== Analysts Commentaries == | |||
=== John Blackledge, TD Cowen === | |||
* Raised Meta Platforms price target to $345 from $220<ref>https://seekingalpha.com/news/3987382-meta-platforms-rises-td-cowen-upgrades-positive-q2-checks</ref>. | |||
* "TD Cowen Proprietary 2Q23 Social Survey Data through June '23 shows modest [year-over-year] engagement improvement at Instagram and Core Facebook," he wrote. "Respondents once again indicated rising usage of IG Reels, suggesting that Reels could be a driver of incremental time spent on Instagram." | |||
* He noted that his digital ad check for Q2 was positive for Meta. | |||
* He noted that there is a potential for further monetization of Reels through image based overlay ads that launched on Instagram at the end of June. | |||
* Blackledge sees Q2 revenue and earnings beating Wall Street estimates. | |||
* He raised his forecaset revenue and earnings forecast for the next 5 years by 8% and 7%, respectively. | |||
* On monetization of Threads, he said, "We do not have any potential Threads rev. in our current Meta forecast, but if the service attracts further users and engagement, we expect Meta to start to monetize the app." | |||
=== Stephen Ju, Credit Suisse === | |||
* Raised Meta Platforms price target to $361.00 from $277.00 and maintained outperform rating<ref>https://markets.businessinsider.com/news/stocks/enhanced-ad-performance-and-diversified-revenue-growth-sets-meta-platforms-on-a-positive-trajectory-analysts-1032452474</ref>. | |||
* He also raised FY23 and FY24 adjusted EPS to $18.40 and $20.97, respectively, from $18.28 and $19.26. | |||
* The GAAP EPS estimates for FY23 and FY24 now stands at $11.79 and $14.67 from the previous $11.63 and $13.31. | |||
* Ju forecasts 2024 revenue growth of $12.7 billion. | |||
* Ju noted that there is acceleration in growth of ad budget. | |||
* He forecasts FX-neutral advertising revenue growth of 12.7% in Q2, with acceleration expected in Q3. | |||
* Like in previous quarters, Advantage+ continues to offset signal loss. | |||
=== Andrew Boone, JMP Securities === | |||
* Raised Meta Platforms price target to $350 from $300 and maintained outperform rating<ref>https://markets.businessinsider.com/news/stocks/enhanced-ad-performance-and-diversified-revenue-growth-sets-meta-platforms-on-a-positive-trajectory-analysts-1032452474</ref>. | |||
* His estimate is based on strong engagement trends, growing ad performance driven by AI, and stabilizing advertisinfg environment. | |||
* He believes the company is in initial stages of benefiting from multiple product catalysts such as Reels, AI and cost discipline. | |||
== References == | == References == | ||
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