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Meta Platforms:Quarterly Results/2024 Q3: Difference between revisions
Meta Platforms:Quarterly Results/2024 Q3 (view source)
Revision as of 13:18, 16 October 2024
, 16 October 2024→Ad spending rebounded further in Q3 and Meta remains the top destination for ad dollars.
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* Overweight: $660->$670: Cantor Fitzgerald said the ad checks were strong in the past few months and the underlying drivers have a long runway. They expect categories such as travel to lift Meta further. However, they see upside expectations as elevated due to recent outperformance. They pointed out that Q4 revenue guidance of $48 billion is needed for the shares to outperform on the print<ref name=":1">https://thefly.com/permalinks/entry.php/id3995567/META-Meta-Platforms-price-target-raised-by--at-Cantor-Fitzgerald-heres-why</ref>. | * Overweight: $660->$670: Cantor Fitzgerald said the ad checks were strong in the past few months and the underlying drivers have a long runway. They expect categories such as travel to lift Meta further. However, they see upside expectations as elevated due to recent outperformance. They pointed out that Q4 revenue guidance of $48 billion is needed for the shares to outperform on the print<ref name=":1">https://thefly.com/permalinks/entry.php/id3995567/META-Meta-Platforms-price-target-raised-by--at-Cantor-Fitzgerald-heres-why</ref>. | ||
* Overweight: $560->$655: Keybanc said their checks indicate ad spend remained strong in Q3<ref>https://thefly.com/permalinks/entry.php/id3995260/META-Meta-Platforms-price-target-raised-by--at-KeyBanc-heres-why</ref>. | * Overweight: $560->$655: Keybanc said their checks indicate ad spend remained strong in Q3<ref>https://thefly.com/permalinks/entry.php/id3995260/META-Meta-Platforms-price-target-raised-by--at-KeyBanc-heres-why</ref>. | ||
* Buy, $635->$690: UBS said though there was a slow start in ad spend in Q3, there was a pick up in August and September aided by political advertising. Ad spend also benefitted from brand advertising recovery<ref>https://thefly.com/permalinks/entry.php/id3994132/META-Meta-Platforms-price-target-raised-by--at-UBS-heres-why</ref>. | * Buy, $635->$690: UBS said though there was a slow start in ad spend in Q3, there was a pick up in August and September aided by political advertising. Ad spend also benefitted from brand advertising recovery<ref>https://thefly.com/permalinks/entry.php/id3994132/META-Meta-Platforms-price-target-raised-by--at-UBS-heres-why</ref>. ''"Budget growth accelerates throughout 3Q24: Despite a slower start, ad budgets accelerated in Aug into Sep citing uplift from political, brand advertising recovery, and improved consumer sentiment; and while most verticals ramped through 3Q24, we note particular strength in auto and CPG. Meta/Instagram and Google/YouTube both benefited from political spend and optimization/efficiencies unlock from automation and a greater share of budgets moving through Performance Max and Advantage+."''<ref>https://seekingalpha.com/article/4726568-meta-platforms-earnings-revenue-upside-social-media-empire-looks-exhausted</ref> | ||
* Buy, $600->$665: Guggenheim said Meta remains the top destination for ad dollars as seen in Q3<ref name=":2">https://thefly.com/permalinks/entry.php/id3994035/META-Meta-Platforms-price-target-raised-by--at-Guggenheim-heres-why</ref>. | * Buy, $600->$665: Guggenheim said Meta remains the top destination for ad dollars as seen in Q3<ref name=":2">https://thefly.com/permalinks/entry.php/id3994035/META-Meta-Platforms-price-target-raised-by--at-Guggenheim-heres-why</ref>. | ||