To: Johnny Canuck who wrote (59634 ) 8/6/2024 8:32:08 PM From: Johnny Canuck Respond to Meta Platforms: Rotation or Not, It’s Rally On For This AI StockThomas Hughes | Reviewed by Don Miller Meta Platforms had a blowout quarter and raised guidance, sending shares upward and on track to hit new highs. AI is the story, driving increased user engagement, ad impressions, and revenue per ad. Analysts' response is overwhelmingly bullish and leading this market higher. 5 stocks we like better than Meta Platforms Meta Platforms NASDAQ: META NVIDIA's NASDAQ: NVDA Meta Platforms alerts:META $494.09 0.40% 28.38 $572.51 ADD TO WATCHLIST a robust quarter driven by strengths in its core and growth opportunities. The company reported $39.07 billion in net revenue, up 22.1% compared to last year and 200 basis points better than expected. The gains were driven by a 7% system-wide increase in daily active people compounded by improved ad impressions and revenue per ad. Ad impressions and revenue per ad grew by 10% to provide top and bottom-line leverage. Regarding AI and growth opportunities, the company says Meta AI use is rapidly expanding, putting it on track to be the most used AI assistant by the end of the year. increased investment in AI and capital return. Overall MarketRank™ 4.43 out of 5 Moderate Buy 15.9% Upside Healthy Weak N/A 0.51 Selling Shares 13.51% SEE FULL DETAILS Ad InvestorPlace analysts' response to Meta’s Q2 results is overwhelmingly positive. Marketbeat.com tracks more than two dozen revisions, all of which increased price targets. The takeaway for investors is that the low-end of the range, consensus estimate, and high-end range are increasing and point to a firming consensus that this stock will move to the $550 to $600 region, a gain of 7% to 17% by year’s end. Outliers exist, but more than 62% of targets are in that range, which puts the market at a new all-time high. AI technology and is nicely integrating it across the network. The result is increased engagement, seen in the user count and ad leverage, and it is expected to pay off over time. Results in Q2 are only the beginning of Meta’s AI boom. confirms the uptrend in price action. The question is whether Meta stock will move up to set a new high now or if the market will pull back to close the gap before moving higher. In either case, Meta Platforms will likely set a new high soon and could surpass $600 by the year’s end. The guidance for Q3 is also robust, expecting revenue in a range with its midpoint above the consensus target. Guidance is likely cautious. ? 625,000% Gain (From Crypto Swap Profits) Should you invest $1,000 in Meta Platforms right now? Before you consider Meta Platforms, you'll want to hear this.five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
