From Financial Modeling Prep: 2024-09-26 08:31:00

Meta Platforms Inc. (NASDAQ:META) saw a 2% pre-market rise after Rosenblatt analysts upped their price target to $811, maintaining a Buy rating. The company’s recent Connect 24 event showcased its commitment to VR, AR, and the Metaverse, with a focus on AI advancements driving growth. Meta’s effective pricing strategies have positioned it as a leader in consumer adoption of these technologies.

Analysts believe Meta’s growing AI capabilities signal a positive shift in its core advertising business, not yet fully reflected in the stock price. Despite a 60% rise year-to-date and 90% increase over the last twelve months, outpacing the S&P 500, the analysts argue that Meta’s growth trajectory justifies a higher valuation. Adjustments were made to earnings estimates to reflect this positive outlook.



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