Over the past six months, Meta (NASDAQ:META) shares have steadily climbed ~138% and it seems the growth path is here to stay.
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The company’s WhatsApp business application has now surpassed over 200 million users, according to Reuters. This is an eye-popping 4x rise in nearly three years. The social media giant is fixing its sights on business messaging and is developing features to help small business owners reach their audience even if they do not have a Facebook account.
Mark Zuckerberg, the company’s CEO is eyeing business messaging as the next growth avenue for the company with the new feature coming in for a fee to business users.
In another development, Meta has also launched a virtual reality subscription service with plans to launch multiple games over the coming months. The subscription service, costing about $7.99 from the second month, is anticipated to increase the user base for the company’s Quest headsets.
Overall, the Street has a $293.37 consensus price target on META alongside a Strong Buy consensus rating.
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