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Meta Platforms Faces Several Price Target Cuts After Downbeat Q2 Earnings, But This Analyst Disagrees

Meta Platforms, Inc. (NASDAQ: META) reported weaker-than-expected earnings for its second quarter on Wednesday. Daily active users for the company were 1.97 billion in the second quarter, up 3% year-over-year.

Benzinga · 07/28/2022 07:45

Meta Platforms, Inc. (NASDAQ:META) reported weaker-than-expected earnings for its second quarter on Wednesday. Daily active users for the company were 1.97 billion in the second quarter, up 3% year-over-year. Monthly active users for the company were 2.93 billion in the second quarter, up 1% year-over-year

Meta shares fell 3.9% to $162.90 in the pre-market trading session.

Several analysts made changes to their price targets on Meta following the release of results.

Below are the analysts lowering price target on Meta.

  • Goldman Sachs lowered price target on the stock from $290 to $255.
  • Wolfe Research lowered Meta price target from $240 to $200.
  • JP Morgan cut the price target on the stock from $225 to $200.
  • Mizuho lowered the price target from $250 to $225.
  • Credit Suisse lowered Meta price target from $245 to $214.
  • JMP Securities cut the price target on the stock from $240 to $215.
  • Raymond James lowered Meta price target from $290 to $215.
  • Citigroup cut the price target on the stock from $270 to $222.
  • Oppenheimer reduce the price target on Meta from $305 to $190.
  • Piper Sandler lowered Meta’s price target from $220 to $190.


However, below is the analyst raising price target on Meta.

  • Keybanc raised price target on Meta from $190 to $196.