Meta Platforms (META: NSD) is set to report its Q1 2024 financial results after the market closes tomorrow (April 24th). Anticipation is building, with analysts expressing optimism about the social media giant’s performance.
Expected Q1 Earnings of Meta Platforms:
Wall Street analysts predict Meta will report revenue of $36.11 billion for Q1, representing a year-over-year increase of approximately 26%. This positive outlook comes despite ongoing challenges like Apple’s privacy changes impacting ad targeting. The continued strength of the Family of Apps – including Facebook, Instagram, and WhatsApp – is expected to drive ad revenue, particularly from sectors like online commerce and gaming.
Stock Target Advisor’s Analysis on Meta:
Stock Target Advisor gives a “Slightly Bullish” rating to Meta Platforms with a target price is 482.38 and a projected price change in 12 months is 0.13%. Currently, 25 analysts covered this stock and the average analyst target price for Meta Platforms Inc. is USD 476.39 over the next 12 months. The last closing of Meta’s stock price was USD 481.73.
Beyond revenue figures, investors will be keen to see metrics related to user engagement and Reels, Meta’s short-form video platform. The company has prioritized increased user engagement across its platforms, and maintaining a steady user base will be crucial for future growth.
Conclusion:
The official report from Meta will be released after the market closes on April 24th. Investors will be closely scrutinizing the results to gauge the company’s health and its prospects.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
