Analyst Maria Ripps of Canaccord Genuity maintained a Buy rating on Meta Platforms, retaining the price target of $900.00.
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Maria Ripps’s rating is based on Meta Platforms’ strategic advancements in the AI and wearable technology sectors. The company recently showcased its commitment to AI through the introduction of new smart glasses models at the Meta Connect conference. These glasses, which include a version with display functionality, are part of Meta’s broader vision to create an AI-powered ecosystem that enhances user interaction and engagement.
Meta’s focus on integrating smart glasses with its existing Family of Apps ecosystem is seen as a potential driver for increased user engagement and new monetization opportunities. By enabling real-time data integration and seamless content sharing, these wearables could become a significant interface for Meta’s services. Despite the competitive landscape and challenges such as pricing and privacy concerns, Meta’s progress in achieving scale with its smart glasses positions it favorably for future growth. The valuation supports a $900 price target, reflecting confidence in Meta’s long-term revenue potential.
In another report released today, Barclays also maintained a Buy rating on the stock with a $810.00 price target.
Based on the recent corporate insider activity of 286 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of META in relation to earlier this year.