Meta Platforms Faces Several Price Target Cuts After Downbeat Q2 Earnings, But This Analyst Disagrees

Meta Platforms, Inc. META reported weaker-than-expected earnings for its second quarter on Wednesday. Daily active users for the company were 1.97 billion in the second quarter, up 3% year-over-year. Monthly active users for the company were 2.93 billion in the second quarter, up 1% year-over-year

Meta shares fell 3.9% to $162.90 in the pre-market trading session.

Several analysts made changes to their price targets on Meta following the release of results.

Below are the analysts lowering price target on Meta.

• Goldman Sachs lowered price target on the stock from $290 to $255.
• Wolfe Research lowered Meta price target from $240 to $200.
• JP Morgan cut the price target on the stock from $225 to $200.
• Mizuho lowered the price target from $250 to $225.
• Credit Suisse lowered Meta price target from $245 to $214.
• JMP Securities cut the price target on the stock from $240 to $215.
• Raymond James lowered Meta price target from $290 to $215.
• Citigroup cut the price target on the stock from $270 to $222.
• Oppenheimer reduce the price target on Meta from $305 to $190.
• Piper Sandler lowered Meta’s price target from $220 to $190.

However, below is the analyst raising price target on Meta.

• Keybanc raised price target on Meta from $190 to $196.