"Shares of Meta Platforms Inc. (NASDAQ: META) lost 3.50% over the past five trading sessions after gaining 1.89% the five prior. The Magnificent Seven member's year-to-date gain stands at 26.06%. When the company reported Q2 earnings on July 30, it announced EPS of $7.14 versus an expected $5.92 and revenue of $47.52 billion versus $44.80 expected. The company's Q2 ad revenue was $46.56 billion, beating Wall Street's forecast of $43.97 billion."
"Over the summer, the Mark Zuckerberg-led tech stock has seen a flurry of analyst upgrades. On Aug. 1, Barclays raised its price target to $810 from $640. In July, Benchmark ($800 from $640), KeyBanc ($800 from $655), Bernstein ($775 from $700), Bank of America ($765 from $690), Wells Fargo ($783 from $664), Cantor Fitzgerald ($828 from $807), Canaccord ($850 from $825) and Citi ($803 from $690) all issued bullish price target adjustments on META."
Meta Platforms posted stronger-than-expected Q2 results with EPS of $7.14 and revenue of $47.52 billion, driven by Q2 ad revenue of $46.56 billion. The stock showed short-term volatility but retained a 26.06% year-to-date gain. Major brokerages raised price targets through the summer, reflecting heightened bullish sentiment. The company authorized a $50 billion share buyback and began paying a quarterly dividend equal to $0.53 ($2.12 annualized) for a 0.28% yield. Meta is expanding beyond social media into broader technology, making substantial investments in artificial intelligence that are central to forward-looking valuation forecasts.
Read at 24/7 Wall St.
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