Meta Platforms:Quarterly Results/2023 Q2: Difference between revisions

Meta Platforms:Quarterly Results/2023 Q2 (view source)

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 * Raised Meta price target to $350 from $300 citing that the company could integrate AI tools to its applications, resulting in more revenue<ref>https://www.investing.com/news/stock-market-news/morgan-stanley-remains-bullish-on-alphabet-and-meta-platforms-432SI-3125417</ref>.
 * "We fully expect META to integrate new large language models into its applications to drive new capabilities for users and advertisers, but changing behavior and material success are less certain, and online advertising doesn't have to be zero-sum," they said.
+=== Ronald Josey,Citi ===
+Maintained buy rating on Meta Platforms and raised price target to $360 from $315 while pointing out that<ref>https://seekingalpha.com/news/3983118-meta-platforms-rises-citi-instagram-engagement-monetization-improving</ref>;
+* Though Instagram’s app downloads were around 12% below that of TikTok this quarter, its monthly active users rose 6% year over year versus a 4% gain in TikTok’s users.
+* Growth in time spend per active users of Instagram has outpaced TikTok for a 7th consecutive month.
+* Reels ad-load has hit 17% quarter-to-date and 18% this month.
+* He believes advertising market is now “stable-to-improving”.
+* Josey believes advertising revenue will grow by 14% year over year in 2024 and Reels will account for around $10.5 billion in ad revenue.
 == References ==
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