Meta Platforms Inc. (NASDAQ:META) is in the spotlight ahead of second quarter earnings Wednesday. Here’s what you need to know.
What To Know: Analysts expect earnings of $5.86 per share and revenue of $44.58 billion. The company guided for revenue between $36.5 billion and $39 billion.
In the first quarter, Meta reported earnings of $6.83 per share, topping estimates of $5.28. Revenue came in at $42.31 billion, above the $41.39 billion consensus.
Meta has consistently beaten both earnings and revenue estimates in recent quarters.
Analyst Changes: Ahead of the earnings report, multiple analysts have issued price target adjustments.
- Benchmark analyst Mark Zgutowicz maintained a Buy rating on Meta and raised the price target from $640 to $800.
- Scotiabank analyst Nat Schindler maintained a Sector Perform rating on Meta and raised the price target from $525 to $675.
- Bernstein analyst Mark Shmulik maintained an Outperform rating on Meta and raised the price target from $700 to $775.
- Stifel analyst Mark Kelley maintained a Buy rating on Meta and raised the price target from $655 to $845.
The consensus price target for Meta is $759.95, with the lowest price target at $600 and the highest price target at $935.
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META Price Action: At the time of publication, Meta stock is trading flat at $699.88, according to data from Benzinga Pro.
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