Analysts are Revising Prices Targets of These 5 Stocks After Earnings

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

Number of Hedge Fund Holders: 184

Meta Platforms, Inc. (NASDAQ:META) is in deep trouble after posting financial results for the third quarter. Meta stock plunged to its lowest price in nearly seven years after the opening bell on Thursday, October 27.

The social network giant reported adjusted earnings of $1.64 per share, well below $3.22 per share in the comparable period of 2021. The numbers also missed analysts’ average estimate of $1.86 per share.

In addition, Meta Platforms, Inc. (NASDAQ:META) posted revenue of $27.7 billion, representing a drop of 4 percent over the corresponding period of 2021. However, it was nearly in line with the consensus forecast.

Investors were also disappointed with its fourth-quarter sales guidance. Meta Platforms, Inc. (NASDAQ:META) projected revenue of $30 – $32.5 billion for the December quarter. The midpoint of the outlook fell short of $32.4 billion estimated by analysts.

Meanwhile, several research firms cut their price targets for Meta Platforms, Inc. (NASDAQ:META) on Thursday, October 27, following its weak quarterly report. Canaccord lowered its price target for the stock from $250 to $200, JPMorgan slashed its price target from $180 to $115 and Deutsche Bank trimmed its price target from $170 to $125.

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