Analysts were right to anticipate robust improvements in both EPS and revenue. As of Thursday 1 February 2024:
- [ ] Earnings Per Share (EPS): $5.33
- [ ] Revenue: $40.1 billion
Revenue jumped 25% from $32.2 billion in the last quarter compared to a year earlier.
On the digital advertising front Meta lost its grip over to other new entrants and rivals Amazon, TikTok, Microsoft and Apple. No longer had the dominance it used to enjoy as a duopoly with Alphabet.
Meta is currently trading at $454.85 USD per share, surpassing the $400 mark before earnings. Analysts expect Meta to have an average price of $426.11, a high of $470 and a low of $370 in the next 12 months.
My target price would be the average price of $426.11.
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