6,560
edits
Meta Platforms:Quarterly Results/2023 Q2: Difference between revisions
Meta Platforms:Quarterly Results/2023 Q2 (view source)
Revision as of 15:53, 19 July 2023
, 19 July 2023→Analysts Commentaries
No edit summary |
|||
| Line 108: | Line 108: | ||
* He believes advertising market is now “stable-to-improving”. | * He believes advertising market is now “stable-to-improving”. | ||
* Josey believes advertising revenue will grow by 14% year over year in 2024 and Reels will account for around $10.5 billion in ad revenue. | * Josey believes advertising revenue will grow by 14% year over year in 2024 and Reels will account for around $10.5 billion in ad revenue. | ||
=== Piper Sandler === | |||
* On June 14, Piper Sandler analysts raised Meta Platforms price target to $310 from $270 and gave it an overweight rating<ref>https://www.investing.com/news/stock-market-news/piper-sandler-more-confident-on-meta-platforms-reacceleration-432SI-3105244</ref>. | |||
* "We are now more confident in META's re-acceleration and raise 2H23 revenue & out-year estimates," they wrote. "'''Our Ad Metrics data suggests pricing is weaker, but spend is holding up'''. Our view: we think META is ramping Reels inventory faster than anticipated." | |||
* "META is just now beginning to re-gain market share after ~2 years of declines. We think AI investments, new product growth (Reels), TikTok issues, and ad-tech investments set the stock up well for 2H23 & into '24. We raise 2H23E revenue by ~$480MM and '24E by ~$1.9BN," they added. | |||
== Competitor Results and Analysts Expectations == | == Competitor Results and Analysts Expectations == | ||