Journalist: Meta Enhances Ad Targeting with Strategic AI Investments, Boosting Revenue Projections: Analyst

Quick Summary:

Truist Securities analyst Youssef Squali maintained Meta Platforms Inc (NASDAQ:META) with a Buy and raised the price target from $525 to $550.

The analyst raised his first-quarter and fiscal 2024 estimates for META to reflect improving pricing and monetization (particularly Reels) after a couple of years of compression, higher impression volume, and sustained must-buy status within the digital ad ecosystem amid ongoing cookie deprecation and a volatile macro. 

Meta’s significant investments across its AI initiatives are yielding better ranking and recommendation results for users and advertisers alike, according to the analyst, and should bolster META’s competitive moat for years to come. 

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Article Details

Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United States

Topics: Tech Briefs META Trading Ideas Reiteration Price Target Benzinga Analyst Ratings FCOM Expert Ideas XLC News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-17 @ 18:37:43 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 347 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 20715789

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