From Nasdaq: 2024-04-04 10:23:39

Meta Platforms, owner of Facebook and Instagram, is experiencing strong advertising growth, prompting analysts at Wells Fargo to maintain an overweight rating on its stock. With a price target of $600, indicating a 15% upside, Meta’s focus on AI tools for ad improvement and strong cash flow make it a compelling investment.

In the fourth quarter, Meta’s revenue increased by 25% YoY, driven by a 21% surge in ad impressions and a 2% rise in ad prices on its platforms. The company’s emphasis on investing in AI tools for ad creation and its healthy cash flow position it well for sustained growth and profitability, continuing its upward trajectory.

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Read more at Nasdaq: Meta Platforms Stock Has 15% Upside, According to 1 Wall Street Analyst