Wall Street stands by Meta even as costs rise and the stock sells off, cites AI leadership

Wall Street analysts are standing by Meta Platforms despite Thursday's sell-off.

Wall Street analysts are standing by Meta Platforms despite Thursday's sell-off. Shares of the Facebook parent sank more than 12% , a day after the company offered light guidance and highlighted plans to ramp up spending on artificial intelligence and mixed reality. The news stoked concerns around costs and Meta's spending, while overshadowing a top-and-bottom line beat .

Citi's Ronald Josey also noted that investments "come from a position of strength whereby Meta is a leader." Elsewhere, Goldman Sachs analyst Eric Sheridan, who slashed his target to $500 a share from $555, highlighted management's strong track record of executing during past investment cycles. "We continue to see META as well-positioned against several long-term secular growth themes and are encouraged by the positive momentum across key product initiatives incl.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

Stock Markets Investment Strategy Business News

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analysts questions why you would buy Meta Platforms (META) stockAnalysts questions why you would buy Meta Platforms (META) stock
Read more »

Meta Platforms Earnings: META sinks 10% on lower Q2 revenue guidanceThis must be 'opposites' week.
Read more »

1 Stock to Buy, 1 Stock to Sell This Week: Meta Platforms, TeslaStocks Analysis by Investing.com (Jesse Cohen) covering: Nasdaq 100, Dow Jones Industrial Average, Boeing Co, General Motors Company. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
Read more »

10 analysts discuss Meta Platforms stock after earnings selloff10 analysts discuss Meta Platforms stock after earnings selloff
Read more »

Stock futures fall as Meta Platforms shares sell off after earnings: Live updatesU.S. stock futures fell Thursday after tech juggernaut Meta Platforms reported quarterly results that disappointed investors.
Read more »

Stock futures fall as Meta Platforms shares sell off after earnings: Live updatesU.S. stock futures fell Thursday after tech juggernaut Meta Platforms reported quarterly results that disappointed investors.
Read more »