The share prices for Meta bumped significantly on Thursday as they recorded an over 23% surge on a particular day.
The stock market report for Meta shows that it is the highest boost that the tech giant’s shares have experienced in almost a decade.
The share prices for Meta were also boosted by the strong input coming in from the analysts. Despite the recent dips in the share prices for Meta, analysts have lost no confidence in the tech giant.
They have continued upgrading the stock status for Meta in recent days, which has caught the attention of many investors.
With the investors growing more optimistic about Meta, they have increased their investments in the tech company. With a strong rally getting formed in favor of Meta, its share prices have surged tremendously.
In addition to the above, the company has also recorded strong earnings in the fourth quarter. The company continued facing a downtrend in its share prices throughout the year 2022.
It had to face several downfalls throughout the year because of the company’s exploration of the metaverse segment.
Finally, after a long and stressful year, the company’s fourth quarter came out with strong revenue figures.
Even Mark Zuckerberg, the CEO of Meta has also driven the analysts to the company’s side with his comments and statements in favor of the company.
Meta Shares Performance and Earnings
Since September 2022, this is the highest level that the Meta shares have hit. This is the level the share prices for Meta had hit before they ended up getting engulfed by the disastrous earnings results for the third quarter.
The third quarter earnings that Meta had reported were considered extremely disastrous for the tech company.
Many analysts and market gurus had started questioning the very leadership of Mark Zuckerberg. There were several claims that Mark Zuckerberg had been demanded to step down from his position.
However, Zuckerberg has proven that he is not going anywhere and his company is resilient to even the fiercest of downfalls and market downtrends.
Although the analysts were initially concerned about Mark Zuckerberg and the company, their tones seem to have changed in recent sessions.
They are now being supportive and are upgrading the stock status for the company, bringing in more investors to invest in the company.
Prior to the latest trading session, the company reported that the revenue it generated was stronger than the estimations. The revenue the company managed to generate was $32.17 billion for the fourth quarter.
Comments by the Analysts
Mark Mahaney, one of the Evercore ISI analysts commented on the recent push that the Meta shares witnessed. He asked the investors and other analysts if the company’s shares did deserve a boost.
Most of the analysts stated yes, claiming that the company has the potential to grow significantly in near future.
He even stated that the company is going to regain its reputation and market status with strong efforts.
The company has started making the right decisions in order to reduce its costs. They have even announced that they are going to buy back their shares and the figure they have projected is much higher than anticipated.
In light of the above, Mark Mahaney has upgraded the stock status for the company to “outperform”. He has even increased the stock price target for Meta to $275 per share.
Barton Crockett, an analyst from Rosenblatt, also upgrade the company’s stock rating to “buy”. He even increased the stock price target for Meta to $220 per share.
Michal Morris from Guggenheim also increased the stock price target to $210 per share.
After the positive input from the analysts as well as the investors, the share prices for Meta surged more than 23%. The company is now on the right track and its share price value may continue surging.