Meta Stock Closes Above $400 For First Time In History Ahead Of Q4 Earnings Thursday
Portfolio Pulse from Surbhi Jain
Meta Platforms Inc (NASDAQ:META) stock closed above $400 for the first time, reaching a new all-time and 52-week high of $406.36. The stock shows technical strength with a rising on-balance volume, indicating positive momentum. Meta is recognized for its social media platform, Facebook, and its ventures into augmented reality and AI, with AI being a significant investment area in 2024. Ahead of its Q4 earnings report on Feb. 1, analysts have a consensus Buy rating with a price target of $364, but recent ratings suggest higher targets, with Raymond James setting the highest at $450.
January 31, 2024 | 2:31 pm
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Meta Platforms Inc's stock reached a historic high, showing strong technical and bullish momentum. Analysts are optimistic with higher price targets ahead of Q4 earnings, indicating potential continued growth.
The stock's historic closing above $400, combined with positive technical indicators and bullish analyst ratings, suggests a strong short-term outlook. The anticipation of Q4 earnings and recent analyst upgrades with higher price targets could drive further investor interest and stock price appreciation in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100