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Meta Platforms Pullback a 'Major Buying Opportunity' - Tigress Financial

Stock Markets Nov 02, 2022 16:08
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By Sam Boughedda

Tigress Financial analysts reiterated a Strong Buy rating on Meta Platforms Inc (NASDAQ:META) but cut its price target to $260 from $466 per share in a note to clients on Wednesday.

They told investors the firm cut Meta's price target based on a re-rating of the valuation but view the recent pullback in price as a "major buying opportunity" as total daily and monthly active users continue to grow. They also stated that the Metaverse will "emerge as a long-term growth driver."

"META recently reported Q3 results that exceeded consensus expectations, and daily and monthly active users continue to grow. The current macro environment continues to put expected pressure on advertising revenue as META continues to increase investment in its Metaverse platform Reality Labs and ongoing capital investment in its Family of Apps and content," the analysts explained.

They added that Meta continues to see user growth, and its most valuable asset is its massive and ever-growing user base, and "it will be able to monetize the ongoing expansion of its family of apps and future product introductions."

"META has a significant upside driven by the ongoing potential to monetize many of its critical applications and technologies, including Instagram, Messenger, WhatsApp, and Oculus. META continues to invest its balance sheet and cash flow in enhancing shareholder value through innovation, strategic acquisitions, and ongoing share repurchases. We believe further upside in the shares exists, and our 12-month target price of $260 represents a potential return of over 170% from current levels," the analysts concluded.

Meta Platforms Pullback a 'Major Buying Opportunity' - Tigress Financial
 

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Comments (1)
George Doyoyo
George Doyoyo Nov 02, 2022 16:35
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What upside...🤣🤣can we save investors from their misery already...IT'S GAME_OVER for all this SPACs real value always has a way of reveling itself.
 
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