META Stock Gets Underperform Rating as Wall Street is Divided
The year started with a lot of hope for the tech sector. Yet, as its first month comes to a close, there doesn’t appear to be a consensus on some of the biggest companies in the world. Among them is META; as the stock has recently gotten an underperform rating, Wall Street appears divided on the company.
There are those who have the massive belief that the social media firm will flourish this year. However, they have been balanced out by those who believe that META will underperform relative to the market this year. The question is, who stands on which side? Moreover, which is more likely to be correct when we come to the end of the next twelve months?
META Gets an Underperform Rating, But Is That Consensus?
Entering the year, there was a lot of excitement from Meta investors. The company was set to launch its newly announced Orion glasses and capitalize on the augmented reality technology market that was heavy on potential. That would be immensely important as the company was still looking to bounce back from its failed metaverse transition.
Yet, the excitement has been met with some concerns regarding the company’s growth prospects this year. Specifically, META stock has recently received an underperform rating, although Wall Street appears divided on the company’s potential to thrive in 2025.
It was Needman & Company that reiterated an underperforming rating on the company this week, according to a recent report. However, that was countered by Wedbush’s Outperform rating and an increased $700 price target. Moreover, Morgan Stanley issued a price target increase of $660 from $600.
Both Goldman Sachs and TD Cowen updated their projection to give the stock a buy rating. But how do these developments stack up to the consensus? Well, CNN Data shows that the stock has a consensus buy rating across 73 surveyed analysts. Specifically, 84% hold this rating, with just 3% holding a sell rating.
Alternatively, it has a $660 median price target over the next twelve months. That would be a 1% jump from its current position, while it has a high-end target of $811, a jump of 24%. Moreover, the platform has a 10 outperform rating on the stock, as it expects it to exceed the market with rather ease.
Log in to Reply
Log in to comment your thoughtsComments
Related Articles
|Square
Get the BTCC app to start your crypto journey
Get started today Scan to join our 100M+ users