From NASDAQ MarketSite: 2024-05-09 07:51:00

Meta Platforms (NASDAQ: META) stock has slipped after beating analyst estimates but revealing plans to increase capital spending and operating expenses for AI and other initiatives. Exane BNP Paribas initiated coverage with an underperform rating and target price of $360. The metaverse has been a major financial drain for the company.

A Wall Street analyst recommends selling Meta Platforms stock. With increased spending on AI and lack of substantial revenue from the metaverse, investors are concerned. Meta Platforms reported an operating loss of nearly $4 billion in Q1, raising doubts about profitability. Maintaining spending discipline will be key for future success.

Investors should consider Stock Advisor’s top 10 stock picks which exclude Meta Platforms. The service provides guidance on building a profitable portfolio and has outperformed the S&P 500 since 2002. This exclusion, along with concerns about Meta’s financials, raises doubts about its investment potential for the future.



Read more at NASDAQ MarketSite: 1 Wall Street Analyst Says Meta Platforms Will Fall to $360. Is It a Sell?