An Overview of Meta Stock (META) Performance
In analyzing Meta (NASDAQ: META) stocks, it is evident that despite recent consolidation in price gains, the company’s focus on artificial intelligence (AI) presents a promising outlook. Industry experts are optimistic about the future performance of META shares over the next 12 months.
The Current Status of Meta Stocks
The recent price action of META stock has not been as impressive in the past few weeks. However, the company has made significant strides this year, attributed to the widespread use of Meta’s apps and its investments in AI technology, especially the newly launched Meta AI assistant.
- 42 Wall Street analysts have collectively rated META stock as a ‘strong buy’.
- Out of the 42 analysts, 37 recommend buying, 3 suggest holding, and 2 advise selling.
Price Predictions for Meta Shares
Industry experts are confident in the continued growth of META shares. They predict an average target price of $522.95 over the next 12 months. The lowest price target stands at $360 (representing a -23.95% change) while the highest target is $593 (+25.26% change).
- Eric Sheridan from Goldman Sachs maintains a price target of $500 for Meta stock, citing the company’s sustained investments and expansion of digital products like Instagram Reels.
- Doug Anmuth from JPMorgan also shares a positive outlook on Meta, considering it a top choice in internet stocks with a price target of $480.
Current Market Performance of Meta Shares
As of May 23, Meta shares were trading at $473.40, experiencing a 0.49% decrease in the day’s trading. Over the past week, the stock dropped by 0.69% and had a monthly loss of 4.58%.
Conclusion on Meta Stock Performance
Despite the positive predictions from Wall Street analysts, it is essential for investors to perform their due diligence. Market trends can be unpredictable, and individual research is crucial when making investment decisions.
Although Meta (NASDAQ: META) stocks seem to be consolidating their price gains from previous months, the technology behemoth’s efforts in the field of artificial intelligence (AI) look promising, and analysts are highly optimistic regarding the price of META shares in the next 12 months.
Notably, the META stock price action has been less than impressive in the past several weeks, but it has nonetheless managed to record significant advances this year, thanks to the widespread use of Meta’s apps and the company’s investments in AI, particularly its recently released Meta AI assistant.
As it happens, a group of 42 Wall Street analysts giving stock ratings to Meta Platforms in the past three months has given META stock a score of ‘strong buy,’ with the overwhelming majority – 37 of them – recommending a ‘buy’ with three votes for a ‘hold,’ and only two suggesting a ‘sell.’
In terms of price, these experts are confident that these shares will continue to increase for the next 12 months, arriving at the average target of $522.95, which would represent a 10.47% gain from its current situation, with the lowest price target at $360 (-23.95%) and the highest at $593 (+25.26%).
One of these experts is Eric Sheridan, who comes from banking giant Goldman Sachs (NYSE: GS) and who has reiterated his $500 price target for Meta stock, considering the company’s continued investments and expansion of digital products like Instagram Reels.
At the same time, Doug Anmuth from JPMorgan (NYSE: JPM) has also retained a positive outlook on Meta, considering it a top choice among internet stocks due to its scale, growth trajectory, and profitability, reiterating a $480 price target, as Finbold reported on April 25.
For now, Meta shares are changing hands at the price of $473.40, recording a decline of 0.49% on the day and dropping 0.69% across the past week, as well as accumulating a loss of 4.58% on its monthly chart, according to the information retrieved on May 23.
Ultimately, META shares could follow the path that Wall Street analysts believe it will, and the company’s growth efforts certainly prove it is capable of stirring bullish sentiment, but doing one’s own research is still critical when investing, as trends in the stock market can change.
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