11/14/2023 0 Comments Meta stock predictions![]() ![]() However, the next quantum leap may come from Meta Platforms, not OpenAI. The AI revolution of the 2020s may have started with OpenAI’s ChatGPT generative AI chatbot. Meta Platforms Goes Toe-to-Toe With ChatGPT gives more confidence in Reels ability to drive” Meta Platforms’ ad revenue, he explained. “The fact that Reels engagement is driving incremental time spent on the platform. Whether Reels-generated revenue will drive META stock to $375 remains to be seen. I agree with Nowak’s assessment, as the financial community is probably underestimating Reels while it’s over-focusing on TikTok and Elon Musk’s X/Twitter. That’s an ambitious projection, since Wall Street only expects Meta Platforms to earn $16.85 per share in 2024. To support this prediction, he cited untapped revenue opportunities from Facebook’s Reels feature (which is similar to TikTok). ![]() Nowak expects Meta Platforms’ earnings to increase to $20 per share by 2024. This implies a great deal of upside from the current share price. Specifically, the Morgan Stanley analyst published a $375 price target on META stock. That’s not unusual, but it’s Nowak’s price target for the stock that might surprise you. Not long ago, Morgan Stanley analyst Brian Nowak assigned an “overweight” rating to Meta Platforms shares. Reels’ Growth Will Drive META Stock Higher The only question is whether you want to own META stock now, or later on, when the share price will probably be closer to $400. In the coming years, believe it or not, Meta Platforms could actually be the king of the hill in AI systems. However, there’s a recent development that might surprise you. Indeed, at least one prominent analyst is bracing for Meta Platforms to potentially deliver even more value to its loyal shareholders.īy now, many financial traders know Meta Platforms is deeply involved with artificial intelligence technology. Even after a dip in August, Meta Platforms (NASDAQ: META) stock has been a strong performer in 2023 so far.ĭon’t assume that the party is over yet, though.
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