1 Wall Street Analyst Thinks Meta Platforms Stock Is Going to $570. Is It a Buy? [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
One recent example was a post-earnings haircut for Meta Platforms (NASDAQ: META) shares made by a pundit tracking the tech giant's stock. Despite the cut, this prognosticator kept his buy recommendation intact, going somewhat counter to current market sentiment on the company. Let's take a glimpse at that take to see how realistic it might be. A $30 target reduction The analyst in question was RBC Capital's Brad Erickson, who reduced his Meta price target to $570 per share from the preceding $600. A $30 downward adjustment in a stock could be considered a major move, regardless Erickson stayed the course by maintaining his outperform (aka buy) rating on the company. The lowered target still implies a nearly 31% upside over the next 12 months. Many market players were unhappy with Meta's first-quarter results . The company tends to perform above expectations, and it did in terms of its trailing results -- both revenue and generally accepted accounting principles (GAAP) net inco
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META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 5/14/24 - Form PX14A6G
- 5/9/24 - Form 4
- 5/7/24 - Form 4
- META's page on the SEC website