Meta Platforms (NASDAQ:META) has improved its CrowdTangle misinformation tracking tool by adding new safety features ahead of the European Parliament elections. This comes as the social media company looks to address EU concerns that led to an investigation last month. Last week, Meta announced that election candidates will see notifications on Facebook and Instagram that will guide them on account security measures. These include using two-factor authentication, reviewing security settings, and using Instagram’s Hidden Words feature to filter offensive messages.
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On Monday, Meta introduced live displays for each EU country that are sorted by relevant keywords, public groups, and Instagram accounts to aid real-time election monitoring by researchers, journalists, and civil society. With over 250 million monthly users in the EU, this move was welcomed by the European Commission, which stated it would monitor the rollout of these features and continue working with Meta for more permanent solutions. However, the formal proceedings against Meta remain ongoing.
Is Meta Stock a Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 37 Buys, three Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After an 82% rally in its share price over the past year, the average META price target of $522.95 per share implies 9.35% upside potential.
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