Exane BNP Paribas initiates coverage of Meta Platforms with underperform recommendation

From Nasdaq: 2024-05-02 20:50:27

Exane BNP Paribas initiated coverage of Meta Platforms on May 2, 2024, with an Underperform recommendation. The average one-year price target for Meta Platforms is 525.73, representing a 19.70% upside from its latest closing price of 439.19. The projected annual revenue for Meta Platforms is 139,653MM, with a 2.14% decrease from the previous year.

There are 5,699 funds reporting positions in Meta Platforms, an increase of 8.30% in the last quarter. The average portfolio weight dedicated to META is 1.65%, with a total of 1,952,341K shares owned by institutions. The put/call ratio of META is 0.70, indicating a bullish outlook among investors.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 69,666K shares of Meta Platforms, representing 2.75% ownership. Jpmorgan Chase, Geode Capital Management, and Price T Rowe Associates also increased their ownership and portfolio allocation in META over the last quarter.

Meta Platforms, also known as Facebook, aims to connect people and build communities through various products like Facebook, Instagram, Messenger, WhatsApp, and Oculus Quest. The company generates its revenue primarily from selling advertising placements to marketers. Founded in 2004, Facebook is headquartered in Menlo Park, CA, and continues to innovate in the social networking space.



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