Meta stuns Street with lower costs, big buyback, upbeat sales

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Go back to Meta stuns Street with lower costs, big buyback, upbeat sales

Meta downgraded at HSBC following 4Q miss; announces 2023 as 'year of efficiency'

February 3, 2023 8:26 AM EST

HSBC Global Research downgraded Meta Platforms (NASDAQ: META) to a Reduce rating (From Hold), and reiterated a price target of $110.00, following the social media companys 4Q results. Meta reported 4Q EPS of $1.76, missing the consensus estimate of $2.20.

The results showed higher users and growing engagement, but a 4.5% revenue decrease and a large restructuring charge of $4.2bn, only partially offset by lower depreciation. 2022 marks the first year of declining revenue at Meta.

Facebook... More

Meta Platforms Inc. (META) PT Raised to $240 at Monness, Crespi, Hardt

February 2, 2023 8:47 AM EST

Monness, Crespi, Hardt analyst Brian White raised the price target on Meta Platforms Inc. (NASDAQ: META) to $240.00 (from $150.00) while maintaining a Buy rating following results and the $40 billion buyback news.

The analyst commented, "Last night, Meta reported 4Q:22 upside, issued a healthy 1Q:23... More

Wall Street analysts switch stance on Meta Platforms (META) following Q4 earnings

February 2, 2023 8:12 AM EST

Following Meta Platforms' (NASDAQ: META) earnings release after the close on Wednesday, Wall Street analysts are sounding a more positive tone on the stock, with price targets being lifted and BofA and Rosenblatt Securities upgrading the company's shares to Buy.

Meta shares are up more than 19% premarket.

BofA upgraded the tech giant's shares to Buy from Neutral, raising the price target to $200 from $160 per share. Analyst Justin Post told... More