From Benzinga: 2024-04-05 10:56:14

Meta Platforms Inc (META) saw its stock soar to a new high of $530 per share following Jefferies’ bullish rating and increased price target to $585. Despite the surge, META’s low P/E ratio of 25.57 and average price target of $561.67 suggest further upside potential.

META stock exhibits a strong bullish trend, trading above key moving averages and technical indicators signaling positive momentum. However, with an RSI of 63.22 nearing overbought levels, investors should exercise caution. Despite this, Meta presents an attractive investment opportunity amid ongoing innovation and growth in the digital landscape.

Shares of Meta were up 3.1% to $527.14, reflecting positive market sentiment and investor confidence in the company’s future prospects. Analysts continue to see upside potential for META stock, positioning it as a favorable investment opportunity in the digital technology sector.



Read more at Benzinga: Meta At All-Time High: Analysts Still Bullish As Stock Climbs 44% YTD, Technical Momentum Intact – Meta Platforms (NASDAQ:META)