OpenAI, a company supported by Microsoft (MSFT), is reportedly taking steps to create its own social media platform, according to insiders. The platform is currently at a nascent stage, with a prototype focused on integrating ChatGPT's image generation capabilities into a social media context that features a user feed.
While specifics about the timeline or launch details remain sparse, CEO Sam Altman is said to be actively seeking feedback from selected external parties to refine the initiative. This move places OpenAI in a developing competitive landscape, which includes established players like Meta Platforms (META, Financial), Pinterest (PINS), Reddit (RDDT), and Snap (SNAP).
Wall Street Analysts Forecast
Based on the one-year price targets offered by 62 analysts, the average target price for Meta Platforms Inc (META, Financial) is $729.88 with a high estimate of $935.00 and a low estimate of $260.00. The average target implies an upside of 39.82% from the current price of $522.03. More detailed estimate data can be found on the Meta Platforms Inc (META) Forecast page.
Based on the consensus recommendation from 72 brokerage firms, Meta Platforms Inc's (META, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Meta Platforms Inc (META, Financial) in one year is $491.87, suggesting a downside of 5.78% from the current price of $522.03. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Meta Platforms Inc (META) Summary page.
