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Meta Platforms:Quarterly Results/2023 Q2: Difference between revisions
Meta Platforms:Quarterly Results/2023 Q2 (view source)
Revision as of 16:55, 18 July 2023
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* His estimate is based on strong engagement trends, growing ad performance driven by AI, and stabilizing advertisinfg environment. | * 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. | * He believes the company is in initial stages of benefiting from multiple product catalysts such as Reels, AI and cost discipline. | ||
=== Goldman Sachs === | |||
* Raised Meta Platforms price target to $335 from $300 and maintained buy rating<ref>https://www.barrons.com/articles/meta-price-targets-raised-digital-ad-rebound-697c3ace?mod=RTA</ref>. | |||
* They cited signs of improvement in the digital advertising market. | |||
* Regarding the performance of digital advertising in each industry, they noted, "There continues to be a large bifurcation in performance by ad vertical dependent upon the macro environment and consumer demand (incl. for goods vs. services). We continue to see sustained strength within travel, local and omnichannel retail. In addition, the more interest rate-sensitive verticals (including. autos, housing, & financial services), while still under pressure on an absolute level, have proven to be relatively more resilient vs. our expectations in Q2. According to data from Pathmatics, US ad impression growth across Facebook and Instagram continues to be strongest within the retail, travel & CPG categories vs. continued pressure (on an absolute basis) within financial services (a continuation of trends seen in the first quarter of 2023 and the fourth quarter of 2022." <ref>https://247wallst.com/technology-3/2023/07/18/goldman-sachs-loves-5-top-internet-stocks-that-live-where-digital-advertising-generates-billions/</ref> | |||
== References == | == References == | ||
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