Loop Capital Reiterates Buy Rating on Meta, $940 Price Target
Loop Capital analyst Rob Sanderson reiterated a Buy rating and $940.00 price target on Meta (NASDAQ: META).
“Meta reported very strong results across KPIs for 4Q and offered meaningfully higher outlook for 1Q compared to investor expectations.
The spending outlook was also well above the consensus forecast, even after the meaningful upward revision to expenses after commentary offered on 3Q results.
We think momentum in the advertising business will carry the day, with solid upside to 4Q and guidance that implies meaningful growth acceleration in 1Q.
Results are demonstrating that aggressive investment in infrastructure is paying off which should ease investor concern at least somewhat in our view.
The stock was initially down on the print, then rallied to be up about 7% in after-hours trading.”
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