Needham upgraded Meta Platforms (META) to Hold from Underperform with no price target Channel checks are driving upside to the firm’s estimates, but the analyst remains on the sidelines with a Hold because the firm believes Meta’s strategy diffusion “wastes capital and adds risks” and the the company’s margins and free cash flow are under structural downward pressure. About 90% of the 50 analysts that cover the stock have a Buy or Strong Buy rating, which implies in the firm’s view that Meta shares are over-owned despite what the firm sees as its regulatory risks, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- TikTok lays off workers from TikTok Shop U.S. unit, Bloomberg reports
- Meta Stock (META) Climbs as European Bosses Urge EU to Delay Damaging AI Act
- Why Apple, Tesla, and Google Are Slowing Down the S&P 500 Rally
- ‘Palantir Poses a Grave Threat to Americans,’ Says Former U.S. Secretary of Labor
- Nvidia-Backed Perplexity AI Launches New Subscription Tier for $200 per Month