5 Best FAANG Stocks To Invest In

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 234

On February 5, Eric Sheridan at Goldman Sachs maintained a Buy rating and a $500 price target on Meta Platforms, Inc. (NASDAQ:META).

Meta Platforms, Inc. (NASDAQ:META), formerly known as Facebook, is another big tech name on our list and is among the original FAANG stocks. It is based in Menlo Park, California.

A total of 234 hedge funds held stakes in Meta Platforms, Inc. (NASDAQ:META) in the third quarter. Their total stake value was $35.2 billion.

 First Pacific Advisors said the following about Meta Platforms, Inc. (NASDAQ:META) in its fourth-quarter 2023 investor letter:

“Meta Platforms, Inc. (NASDAQ:META) saw a welcome recovery in engagement and revenue year-to-date following a tough 2022. The company has continued to offer new solutions that allow advertisers to target customers effectively and efficiently via one of the world’s leading digital platforms. Moreover, operating profits are rising due to an organization-wide focus on improving productivity and accelerating the time to market for new products. However, overall profitability continues to be weighed down by losses in the Reality Labs segment. But, there is positive optionality that Meta will emerge from the AI arms race as one of the leading players in the industry.”