Meta is expected to report its Q3 earnings next week, and Wall Street Analysts are already busy forecasting new predictions for the firm’s success. Several analysts have already begun forecasting bullish targets for Meta, with FactSet expecting the firm to report profits worth $13.49 billion.
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The Firm May Report Stellar Profits As Analysts Forecast 16% Quarterly Surge
Meta Platforms is gearing up to unveil its Q3 earnings on October 30th, which has compelled Wall Street analysts to predict new pedestals for the firm to report on. Wall Street analysts expect Meta to report stellar profits as the firm continues experimenting and expanding its AI endeavors, which may have fructified to help stabilize the firm.
The analyst predicts Meta to report $5.21 earnings per share, per the data platform FactSet. This roughly entails a profit worth $13.49 billion. The surge is deemed remarkable, representing a 16% hike in numbers compared to the firm’s last year’s profits. The analysts are also predicting an 18% surge in sales, with the estimate to sit at $40.19 billion.
Meta Platforms, earlier called Facebook, rebranded its firm as it wanted to penetrate the budding AI and Metaverse markets. The efforts have finally paid off. Analysts have predicted a series of stunning growth metrics for the firm to report this week. Meta seems to be working on an independent AI search engine model to reduce its reliance on Google and Bing.
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The US Stock Price Forecast: Price To Touch $628
According to TipRanks, Meta Platforms stock may surge dramatically in the long haul. The portal suggests that the stock’s immediate price target is $628, with a high of $800 that Meta Platforms can claim within the next 12 months.
“The average price target for Meta Platforms is $628.77. This is based on 47 Wall Street Analysts’ 12-month price targets issued in the past 3 months. The highest analyst price target is $811.00; the lowest forecast is $525.00. The average price target represents an 8.75% increase from the current price of $578.16. Meta Platforms’s analyst rating consensus is a strong buy. This is based on the ratings of 47 Wall Street analysts.”
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