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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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.
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