Meta Platforms, Inc.’s Stock Price Takes a Dive, Plunging 10.56% to $441.38

Meta Platforms, Inc. (META)

441.38 USD -52.12 (-10.56%) Volume: 82.6M

Meta Platforms, Inc.’s stock price stands at 441.38 USD, witnessing a drop of 10.56% this trading session with a hefty trading volume of 82.6M, yet maintaining a promising YTD increase of 24.70%, indicating volatile yet overall positive performance in the market.

Latest developments on Meta Platforms, Inc.

Meta Platforms, also known as Facebook, has witnessed significant stock price movements after its Q1 earnings report. Despite doubling its profit to $12.37 billion and a 27% revenue increase to $36.46 billion, the company’s shares slumped in after-hours trading due to weak revenue guidance and higher projected costs. This was further impacted by the implementation of Meta AI on platforms such as Instagram and WhatsApp, which sparked a tech selloff and concerns among users who are unable to turn it off. Moreover, Meta’s plans to increase AI spending have spooked Wall Street, leading to a potential $200 billion wipeout in market cap.

Meta Platforms, Inc. on Smartkarma

Analysts on Smartkarma have provided mixed coverage of Meta Platforms (Facebook). MBI Deep Dives released a bearish report titled “Meta 1Q’24 Update,” expressing concerns about after-hours volatility and a significant drop in stock price. On the other hand, Baptista Research published a bullish report called “Meta Platforms: A Spectacular End To 2023 But What Are The Bumps Ahead On The Road In 2024? – Major Drivers,” highlighting the company’s strong growth and increased revenue.

Additionally, MBI Deep Dives shared another report on Meta Platforms titled “Meta Platforms: Model Update,” focusing on updated models and encouraging readers to explore the data. They also released a bullish report named “Meta 4Q’23 Update,” discussing changes in reporting metrics and reassuring investors about the company’s future direction. These diverse perspectives provide investors with valuable insights to consider when evaluating Meta Platforms as an investment opportunity.

A look at Meta Platforms, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Meta Platforms (Facebook) has received a mixed outlook based on the Smartkarma Smart Scores. While the company scored high in Momentum and Growth, indicating strong performance in these areas, it received lower scores in Value and Dividend. This suggests that the company may have solid growth potential and market momentum, but investors may need to carefully consider the value and dividend aspects of the company before making investment decisions.

Meta Platforms Inc., known for its social technology applications and advertising services, continues to focus on connecting people, building communities, and supporting businesses. With involvement in augmented and virtual reality, the company’s overall outlook, as indicated by the Smartkarma Smart Scores, reflects a balance of strengths and weaknesses across different factors such as growth, resilience, and momentum. Investors looking at Meta Platforms should consider these scores as part of their decision-making process.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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