- Erste Group analyst Hans Engel downgraded Facebook parent Meta Platforms FB to Hold from Buy.
- Facebook invested 21.7% of revenue in research and development in the last quarter, and the intended reorientation toward virtual products and services offers new earnings potential in the future.
- Related Content: Read How Facebook's Metaverse Ambitions Are Shaping Up In Mark Zuckerberg's Words
- However, the development of the new advertising revenues is associated with high costs, which are difficult to forecast.
- Price Action: FB shares traded higher by 1.59% at $201.70 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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