Instagram CEO Prioritizes Products for Teens and Creators and Reels Account for Nearly 50% of Time Spent on Platform: Analyst
Portfolio Pulse from Anusuya Lahiri
Instagram CEO Adam Mosseri is prioritizing products for teens and creators, with a focus on messaging and Reels. Reels now account for nearly 50% of time spent on Instagram. JMP Securities analyst Andrew Boone reiterated Meta Platforms Inc (NASDAQ:META) with a Market Outperform and a $380 price target. Boone views Meta's willingness to adapt and evolve as helping to make the business more defensible.
August 04, 2023 | 10:37 am
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POSITIVE IMPACT
Instagram's focus on Reels and messaging could drive engagement and growth for Meta Platforms. The company's stock has been reiterated with a Market Outperform and a $380 price target by JMP Securities.
The news about Instagram's focus on Reels and messaging, which are popular among teens and creators, could drive user engagement and growth for Meta Platforms. This, coupled with the positive rating and price target from JMP Securities, could have a positive impact on Meta's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100