Benchmark has revised its price target for Meta Platforms (META, Financial), lowering it from $820 to $640. Despite this adjustment, the firm continues to advocate a Buy rating for the company's shares. This revision comes as Meta prepares to release its first-quarter financial results on Wednesday, April 30.
The adjustment reflects concerns over Meta's short-term prospects, influenced by a challenging global demand landscape. However, Benchmark maintains confidence in Meta's long-term competitive strengths, suggesting that, despite immediate obstacles, the company's ability to sustain its market position remains robust.
Investors are advised to keep a close eye on the upcoming earnings report, as it may provide further insights into how Meta is navigating the current economic environment. The firm's continued support for a Buy rating indicates optimism about Meta's future growth and resilience.
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 $712.65 with a high estimate of $935.00 and a low estimate of $260.00. The average target implies an upside of 42.45% from the current price of $500.28. 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 $489.93, suggesting a downside of 2.07% from the current price of $500.28. 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.
