"Shares of Meta Platforms Inc. (NASDAQ: META) gained 2.59% over the past five trading sessions after gaining 0.57% the five prior. The Magnificent Seven member's year-to-date gain stands at 22.99%. 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."
"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 0.29% 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 posted a strong Q2 with EPS of $7.14 versus $5.92 expected and revenue of $47.52 billion versus $44.80 expected. Q2 ad revenue reached $46.56 billion, topping forecasts. Shares climbed recently and show a 22.99% year-to-date gain. Multiple major analysts raised price targets in July and August. The company authorized a $50 billion stock buyback and initiated a dividend that yields about 0.29% (approximately $2.12 annually). Meta is expanding beyond social media into broader technology and is heavily investing in artificial intelligence as a primary growth driver. From 2014 to 2024 revenue grew roughly 1,196%, and net income rose from $2.94 billion to over $62.36 billion, driven mainly by ad space.
Read at 24/7 Wall St.
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