Meta Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | April 24, 2024 02:45am

Meta Platforms, Inc. (NASDAQ:META) is set to release earnings results for its first quarter after the closing bell on April 24, 2024.

Analysts expect the Menlo Park, California-based company to report quarterly earnings at $4.32 per share, up from $2.20 per share in the year-ago period. Meta is projected to report quarterly revenue of $36.16 billion, up from $28.64 billion in the year-earlier quarter, according to data from Benzinga Pro.

Meta recently announced that its AI assistant, powered by the newly launched Llama 3 model, will now incorporate real-time search results from Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and Microsoft Corp.’s (NASDAQ:MSFT) Bing.

Meta shares rose 3% to close at $496.10 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Bernstein analyst Mark Shmulik maintained an Outperform rating and raised the price target from $535 to $590 on April 18, 2024. This analyst has an accuracy rate of 82%.
• Truist Securities analyst Youssef Squali maintained a Buy rating and boosted the price target from $525 to $550 on April 17, 2024. This analyst has an accuracy rate of 81%.
• UBS analyst Lloyd Walmsley maintained a Buy rating and raised the price target from $530 to $610 on April 16, 2024. This analyst has an accuracy rate of 85%.
• Stifel analyst Mark Kelley maintained a Buy rating and boosted the price target from $527 to $588 on April 16, 2024. This analyst has an accuracy rate of 87%.
• Citigroup analyst Ronald Josey maintained a Buy rating and increased the price target from $525 to $590 on April 15, 2024. This analyst has an accuracy rate of 72%.

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