Rosenblatt Reiterates Buy on Meta, $886 PT
Rosenblatt analyst Barton Crockett reiterated a Buy rating and $886 price target on Meta Platforms Inc. (NASDAQ: META)
“Meta yesterday formally rolled out Meta One, it’s new paid subscription program, building on the May 27 launch of single-app Plus plans.
Disclosure of 15M trial and paid subs suggests a much faster ramp and larger opportunity than smaller Snap, which reported over 25M subs and a $1B ARR early this year for its comparable Snapchat+ subscription, a little over 3.5 years after launch.
This builds upon momentum Meta is realizing with its new Muse personal argentic capability, which continues to stand near the top of app store rankings since its Sept. 8 launch.”
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