Morgan Stanley lowered its price target on the Facebook parent to $225 from $280 on Friday.
Meta is facing near-term headwinds to revenue growth, thanks to Americans spending less time on its platforms and to the shift towards still-lower monetizing Reels engagement, Morgan Stanley said Friday. The firm lowered its price target on the Facebook parent to $225 from $280, but kept its overweight rating. The new target implies upside of about 29% from Thursday's close at $174.66 per share. The total time spent on Facebook and Instagram in the U.S.
as building/scaling effective ad units that deliver results on new engagement formats can take time," he wrote. Meta shares have been slammed this year, down 48%, as the company struggles keeping users engaged amid increasing competition from rivals such as TikTok. Changes to Apple's iOS privacy policy have also hurt Meta. To be sure, Nowak pointed out that Meta is trading at somewhat of a discount.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple, Amazon and Morgan Stanley are in the headlines. Here's our take on the newsSupply chain diversification, holiday fees for sellers and ETF filings: All are incrementally positive developments for three Club stocks.
Read more »
Katy Perry Talks De Soi, Meditation, and Anxiety | Well+GoodKaty Perry and distiller Morgan McLachlan have entered the wellness space with their non-alcoholic aperitifs.
Read more »
Credit card skimmer camera found at bank ATM in Morgan HillPolice in Morgan Hill are looking for the person or persons responsible for attaching a small camera to a bank ATM that was discovered directly above the ATM keypad.
Read more »
JP Morgan quant who called summer rally says there's plenty of ammunition to drive stocks higher --- and here's whyJP Morgan quant who called summer rally says there’s plenty of ammunition to drive stocks higher — and here’s why
Read more »
13 Virtual And IRL Things To Do Around DC This WeekendCatch the D.C. Black Film Festival, listen to R&B at Fort Dupont Park or Blondie at The Anthem, and stroll a car-free Adams Morgan around D.C. this weekend.
Read more »
A Second Eight Row Flint Will Open in Houston's East EndWith the recent closing of Agricole Hospitality's Revival Market, the trio of Morgan Weber, Ryan Pera and Vincent Huynh teased that there was other big news coming. Today, Agricole announced that it would be opening a second location of its popular Heights bar, Eight Row Flint, this coming fall. The...
Read more »