Meta Platforms Faces Limited Upside Potential Amid TikTok's Momentum and Revenue Headwinds, Analyst Says
Portfolio Pulse from Anusuya Lahiri
Benchmark analyst Mark Zgutowicz has reiterated a Hold rating on Meta Platforms Inc (NASDAQ:META), citing limited upside potential due to TikTok's momentum and revenue headwinds. The analyst's FY23E and FY24E revenue relative to consensus is -3% and -8%, respectively. META shares are currently trading lower by 1.70% at $289.27.
July 24, 2023 | 3:54 pm
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NEGATIVE IMPACT
Meta Platforms Inc faces limited upside potential due to TikTok's momentum and revenue headwinds, according to Benchmark analyst Mark Zgutowicz. The analyst's FY23E and FY24E revenue relative to consensus is -3% and -8%, respectively.
The analyst's hold rating and the mention of limited upside potential due to TikTok's momentum and revenue headwinds suggest a negative short-term impact on Meta Platforms Inc's stock. The analyst's FY23E and FY24E revenue predictions being below consensus further supports this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100