Tech Giant Hit With a Pair of Price-Target Hikes

The shares are up more than 125% in 2023

Deputy Editor
Jun 14, 2023 at 9:00 AM
facebook X logo linkedin


Following Apple's (AAPL) Vision Pro headset reveal, artificial intelligence (AI) frontrunner and Facebook parent Meta Platforms Inc (NASDAQ:META) saw its price target lifted to $310 from $270 at Piper Sandler, while Wolfe Research hiked its price target to $330 from $300. The company is looking to implement more generative AI into its products, with CEO Mark Zuckerberg announcing a wide variety of products in development at an all-hands meeting with employees last week.

The 12-month consensus target price of $276.43 is a slim 1.6% premium to last night's close, leaving plenty of room for more price-target hikes, while 33 of 38 covering brokerages rated META a "buy" or better.

Meta Platforms stock was last seen 0.4% higher before the bell, trading at $272.50. The shares have ripped up the charts over the last few months, guided higher recently by their 20-day moving average. Year-to-date, the stock is up 125.5%.  

Those wanting to speculate on  META stock's next move, options might be a good idea. The security's Schaeffer's Volatility Index (SVI) of 30% sits in the extremely low 1st percentile of its 12-month range, indicating that options players are pricing in low volatility expectations. Plus, META's Schaeffer's Volatility Scorecard (SVS) sits at 90, suggesting the stock has tended to exceed options traders' volatility expectations during the past year.  

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*