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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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* On June 14, Piper Sandler analysts raised Meta Platforms price target to $310 from $270 and gave it an overweight rating<ref>https://www.investing.com/news/stock-market-news/piper-sandler-more-confident-on-meta-platforms-reacceleration-432SI-3105244</ref>. | * On June 14, Piper Sandler analysts raised Meta Platforms price target to $310 from $270 and gave it an overweight rating<ref>https://www.investing.com/news/stock-market-news/piper-sandler-more-confident-on-meta-platforms-reacceleration-432SI-3105244</ref>. | ||
* "We are now more confident in META's re-acceleration and raise 2H23 revenue & out-year estimates," they wrote. "'''Our Ad Metrics data suggests pricing is weaker, but spend is holding up'''. Our view: we think META is ramping Reels inventory faster than anticipated." | * "We are now more confident in META's re-acceleration and raise 2H23 revenue & out-year estimates," they wrote. "'''Our Ad Metrics data suggests pricing is weaker, but spend is holding up'''. Our view: we think META '''is ramping Reels inventory faster than anticipated'''." | ||
* "META is just now beginning to re-gain market share after ~2 years of declines. We think AI investments, new product growth (Reels), TikTok issues, and ad-tech investments set the stock up well for 2H23 & into '24. We raise 2H23E revenue by ~$480MM and '24E by ~$1.9BN," they added. | * "META is just now beginning to re-gain market share after ~2 years of declines. We think AI investments, new product growth (Reels), TikTok issues, and ad-tech investments set the stock up well for 2H23 & into '24. We raise 2H23E revenue by ~$480MM and '24E by ~$1.9BN," they added. | ||