Canaccord Genuity analyst Maria Ripps maintained a Buy rating on Meta Platforms yesterday and set a price target of $900.00.
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Maria Ripps has given her Buy rating due to a combination of factors, primarily driven by Meta Platforms’ strong financial performance and strategic investments. The company reported impressive third-quarter results, with revenue and operating income exceeding expectations. Advertising revenue, in particular, showed significant growth, reflecting improvements in user engagement and ad performance. This momentum was supported by increased time spent on platforms like Facebook and Instagram, with Instagram achieving over 3 billion monthly active users.
Furthermore, Meta’s commitment to advancing its technological capabilities, particularly in artificial intelligence, is another key factor in the Buy rating. The company is focused on developing personal superintelligence and enhancing its recommendation systems, which are expected to drive future engagement and monetization. Despite the increased investment in AI and infrastructure, which has pressured the stock, management’s confidence in the long-term payoff suggests a strong potential for revenue acceleration in the coming years. This strategic vision, coupled with robust current performance, underpins the positive outlook for Meta’s stock.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $840.00 price target.
Based on the recent corporate insider activity of 280 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.