Alphabet, Meta Platforms Targets Cut at KeyBanc on Tougher Ad Environment By

© Reuters. By Senad Karaahmetovic KeyBanc analysts lowered price targets on Alphabet (NASDAQ:) and Meta Platforms (NASDAQ:) amid increasing concerns the ad market will see a downturn in 2023. These concerns have made investors further skeptical of revenue estimates for both META and GOOGL, analysts said in a client note. As a result, the analysts … Read more

Meta Platforms Should Reduce Headcount Expense by 20%

© Reuters. By Sam Boughedda In an open letter to Meta Platforms (NASDAQ:) on Monday, Altimeter Capital Chair and CEO Brad Gerstner said that the social media and metaverse company needs to get its mojo back and re-build confidence with investors through a reduction in headcount, Capex and limiting investment in the metaverse. Gerstner recommends … Read more

Meta Platforms Falls After BofA Downgrade to Neutral on Ad Budget Cuts By

© Reuters By Senad Karaahmetovic Bank of America analysts downgraded Meta Platforms (NASDAQ:) stock to Neutral from Buy with a price target of $150 per share (down from $196). While recent checks from BofA on ad spending showed stability as far as Q3 is concerned, the analysts argue that the ad spending pressure is likely … Read more

Meta Platforms’ Near-Term Challenges Remain

© Reuters By Sam Boughedda Facebook parent company Meta Platforms (NASDAQ:) hosted its annual Meta Connect event on Tuesday, featuring a keynote presentation by CEO Mark Zuckerberg, outlining Meta’s progress on Reality Labs products and software, and its vision for the future of the metaverse Meta shares fell almost 4% in Tuesday’s session, while it … Read more

Atlantic Cuts Meta Platforms to Neutral, Doesn’t Expect Shares to Re-Rate Higher By

© Reuters. By Senad Karaahmetovic  Atlantic Equities analysts downgraded Meta Platforms (NASDAQ:) shares to Neutral from Overweight with a new price target of $160 per share. The analysts believe Meta’s growth is “increasingly challenged” amid mounting macro headwinds. Moreover, rising competition for advertising dollars and easing secular tailwinds in digital advertising are further complicating the … Read more

Alphabet and Meta Platforms Remain BofA’s Top Value Internet Stocks By

© Reuters. By Senad Karaahmetovic Bank of America has reiterated the firm’s positive stance on Alphabet (NASDAQ:) (NASDAQ:) and Meta Platforms (NASDAQ:), which BofA still sees as the top value stocks within the Internet sector. Still, Bank of America acknowledges that Street estimates for Alphabet/Meta advertising revenues are likely too high for 2023. Moreover, Increasing … Read more

Meta Platforms Confirming Cost Cuts Would be a ‘Key Catalyst’

© Reuters By Senad Karaahmetovic The Wall Street Journal reported yesterday that Meta Platforms (NASDAQ:) may cut costs by 10% or more over the next few months. The cost cuts may result from internal business reorganizations that may see some jobs become redundant. Meta reported a 22% YoY increase in costs to over $20 billion … Read more

Meta Platforms Looks to Reduce Costs by at Least 10% Via Reorganization

© Reuters. By Sam Boughedda The Wall Street Journal reported Wednesday that Meta Platforms Inc (NASDAQ:) has been discussing cost cuts, hiring freezes and “ruthless prioritization” as it aims to tackle stalling growth. However, the company has not discussed layoffs, the WSJ stated. Nonetheless, citing former managers familiar with the matter, the technology giant is … Read more