"Shares of Meta Platforms Inc. (NASDAQ: META) gained 1.89% over the past five trading sessions after gaining 0.84% the five prior. The Magnificent Seven member's year-to-date gain stands at an even 30.00%. 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."
"Recently, 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."
"This year, META announced - alongside authorizing a $50 billion stock buyback - that shares of META would begin paying a dividend. And while its current yield of 0.27% may not seem like much, at its current price, that equates to 53 cents per share quarterly, or $2.12 per share annualized. As the dominant player in the social media landscape, Meta Platforms is now branching out more broadly into tech, and specifically, the artificial intelligence (AI) space."
Meta Platforms shares gained 30.00% year-to-date, including recent several-day gains. Q2 earnings reported EPS of $7.14 versus $5.92 expected and revenue of $47.52 billion versus $44.80 expected. Q2 advertising revenue reached $46.56 billion, beating Wall Street's $43.97 billion forecast. Multiple firms raised price targets, including Barclays, Benchmark, KeyBanc, Bernstein, Bank of America, Wells Fargo, Cantor Fitzgerald, Canaccord and Citi. The company authorized a $50 billion stock buyback and began paying a dividend with a current yield of 0.27% (about $2.12 annualized). Meta is expanding into broader tech and heavily investing in artificial intelligence. Revenue grew from $12.466 billion in 2014 to over $164 billion in 2024.
Read at 24/7 Wall St.
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