#2 - Facebook (NASDAQ:META)
Facebook (NASDAQ: FB) - When you see a headline that reads “Facebook’s stock is deeply troubled – and the bottom is nowhere in sight”, you begin to see the problem that Facebook is having. The social media giant was just starting to put privacy concerns behind it, but those are now seeming like the tip of the iceberg. Facebook has internal strife. The co-founders of Instagram, Facebook’s photo-sharing site, resigned abruptly in September. This is on top of reports of internal disputes between CEO Mark Zuckerburg and Chief Operating Officer Sheryl Sandberg. But all of this can be chalked up to noise that happens from time to time with a growing company. A bigger problem is that Facebook is not delivering earnings reports that are wowing executives. Their last quarter saw them deliver 1.49 billion active daily users, slightly below the 1.5 billion analysts expected. And the company’s continued focus on data security is hitting the bottom line as operating profit dropped 8% in the quarter. Shares of Facebook are down 24% for the year, making it the worst performing among the stocks belonging to the FAANG club (Facebook, Amazon, Alphabet, Netflix, Google).
About Meta Platforms
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
Read More - Current Price
- $585.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 37 Buy Ratings, 4 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $638.00 (9.0% Upside)
