Why Meta Platforms Stock Is Falling Today

Meta Platforms Inc META shares are trading lower Tuesday following a downgrade from Atlantic Equities.

What Happened: Atlantic Equities analyst James Cordwell downgraded Meta from Overweight to Neutral and announced a $160 price target, citing concerns over slowing revenue growth and rising costs.

Cordwell believes Meta's growth will be challenged by macro headwinds and increased competition for advertising spend. The Atlantic Equities analyst also expects a slowdown in the digital advertising space as a whole, which could impact the company's earnings.

Credit Suisse analyst Stephen Ju on Tuesday maintained Meta with an Outperform rating and lowered the price target from $214 to $174.

On Monday, Morgan Stanley analyst Brian Nowak maintained Meta with an Overweight rating and lowered the price target from $225 to $205.

Meta is set to host a virtual event called "Meta Connect" on Tuesday, starting at 1 p.m. ET.

META Price Action: Meta is making new 52-week lows during Tuesday's trading session.

The stock was down 3.73% at $128.77 at time of writing, according to Benzinga Pro.

Photo: Gerd Altmann from Pixabay.

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