"Shares of Meta Platforms Inc. (NASDAQ: META) gained 1.99% over the past five trading sessions after gaining 2.59% the five prior. The Magnificent Seven member's year-to-date gain stands at 25.04. 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. Meta will report Q3 earnings after the market closes today, Oct. 29."
"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."
Shares of Meta Platforms rose recently and carry a year-to-date gain of about 25.04%. Q2 results included EPS of $7.14 and revenue of $47.52 billion, with ad revenue of $46.56 billion surpassing forecasts. The company scheduled Q3 results for Oct. 29. Multiple major banks raised price targets this summer, reflecting bullish analyst sentiment. Meta authorized a $50 billion share buyback and initiated a dividend that yields roughly 0.29% (about $2.12 annualized). Meta is expanding beyond social media into broader tech and focusing heavy investment on artificial intelligence, which is influencing multi-year forecasts.
Read at 24/7 Wall St.
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