BofA Securities analyst Justin Post reiterated a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $550.
The analyst marginally increased his first-quarter estimates for positive ad checks and Easter benefits but lowered second-quarter and 2024 estimates for recent U.S. dollar depreciation.
Post estimates first-quarter revenue of $36.4 billion (up 27% Y/Y) above Street at $36.2 billion.
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He expects ad revenue to grow 26% year over year to $35.5 billion (vs. the Street at $35.4 billion), with 2 points of Q/Q acceleration.
Post estimates EBITDA at $20.9 billion and EPS at $4.48, above Street at $20.3 billion and $4.33, respectively.
For users, Sensor Tower suggests healthy Instagram users & time spent (though Facebook time ...