Meta Sees Increased Price Target for 2024
Jan 15, 2024 By MarketDepth
Meta (META:NASD) is seeing its highest close on record as analysts have set a bullish price target for 2024. The company’s price target went from $400 to $470 per share seeing an almost 20% increase from previous expectations. The company is seeing increased revenue this year with a 13% increase in expected 2024 revenue.
Meta is seeing some positive results as the company did large rounds of layoffs in 2023 which will help 2024 profits as revenue of the company continues to surge. The company continues its push for AI and how to monetize any future development they do.
Meta is up over 100% from the beginning of last year as cost cutting efforts and increased demand have helped the companies market cap continue to soar.