Meta Stock Brushes Off Strong Results After Warning

Analysts have been quick to comment on the results

Deputy Editor
Oct 26, 2023 at 11:07 AM
facebook X logo linkedin

Meta Platforms Inc (NASDAQ:META) stock is sporting a post-earnings deficit, down 4.2% at $287 at last glance. The tech concern beat third-quarter revenue and earnings estimates, but warned of lower advertising revenue in the current quarter and forecast 2024 spending to exceed expectations. What's more, finance chief Susan Li warned of unpredictability in the Middle East amid the ongoing Israel-Hamas war.

Evercore ISI did point out that Meta's brand advertising has slowed due to the war, while Jefferies said investors should not sweat current-quarter commentary. A flood of analysts chimed in with price-target adjustments in both directions today, though none adjusted their ratings. Of the 59 firms in coverage, a whopping 53 carry a "buy" or better rating on META, while the 12-month consensus price target of $368.52 is a 27% premium to current levels. 

Today's pullback has the security trading at its lowest levels since August, though its 140-day moving average appears to be keeping losses in check. Since the start of the year, META is up 141.1%. 

So far in the options pits, 453,000 calls and 235,000 puts have been exchanged, which is five times the overall volume typically seen at this point. The November 27 put is the most popular contract.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI