TipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Meta Platforms & Wynn Resorts.
) is next on our list. Meta has rebounded this year after a disastrous run in 2022. Its problems last year were due to a slowdown in online advertising spend and the mounting losses of the company's Reality Labs division — which includes its metaverse projects.
Despite weak earnings, the stock spiked in reaction to recent results, as investors cheered Meta's cost control measures and a $40 billion increase in its share repurchase authorization. Meta already had nearly $11 billion remaining under its existing buyback plan.highlighted that Meta's "most valuable asset" is its huge and growing user base. Daily Active People or DAP rose 5% to 2.96 billion in the fourth quarter.
Furthermore, Feinseth projects that Meta's performance will be fueled by a "new, more cost-efficient data center structure" that is competent in supporting artificial intelligence and non-AI workloads. Feinseth increased his price target for Meta to $285 from $260 and reiterated a buy rating as he believes it can outperform rivals due to its massive user base and the ability to generate significantly higher returns for advertisers.
Feinseth currently stands at #126 among over 8,300 analysts on TipRanks. Moreover, 65% of his ratings have been successful, with each generating a 13.5% average return. Digital transformation, the accelerated shift to the cloud and geopolitical tensions have triggered an increase in cyber threats, driving demand for cybersecurity companies like
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