Meta Stock Soars Past $700 Following Impressive Earnings Performance
Meta Stock Achieves Record Performance
The latest earnings results reveal a notable increase in Meta stock, which recently surpassed the $700 mark following the release of its Q4 and full-year 2024 earnings report. Meta Platforms, the parent company of Facebook and Instagram, reported earnings per share (EPS) of $8.02 and revenues of $48.4 billion, exceeding market expectations significantly.
Impressive Earnings and Market Reaction
On January 29, Meta closed with a stock price of $676.49 but saw an impressive rise to $716 post-earnings report. As of January 30, the stock was trading at $692.91, showcasing an upward trend that has pushed year-to-date returns up to 18.60%.
- EPS: $8.02
- Revenues: $48.4 billion
Despite concerns related to competition and capital expenditures, analysts remain bullish about the stock's potential to reach new all-time highs. CEO Mark Zuckerberg has expressed confidence in continuing infrastructure investments, projecting revenue guidance between $39.5 billion and $41.8 billion for Q1 2025.
Future Outlook for Meta Stock
Investors are optimistic as Wall Street supports Meta's strategic focus on investment over short-term profit, with Canaccord Genuity raising their price target for Meta stock to $825. This positive sentiment signals confidence in the company's growth trajectory and long-term value proposition.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.