Netflix Inc NFLX kicked off FAANG earnings Tuesday, announcing quarterly results after the bell, but there's another FAANG name on one investor's radar.
"I have been adding to Facebook," Hightower Advisors' Stephanie Link said Tuesday on CNBC.
She expects many of the technology names to struggle during earnings season, particularly any companies that aren't profitable, but Meta Platforms Inc FB looks attractive ahead of earnings next week, she said.
After falling about 35% to start the year, Meta is trading around 9 times enterprise-value-to-EBITDA, Link stressed.
"This is a profitable company with a $50 billion buyback and I think they are going to get Reels right," she said. "And they still have a very large user base in Facebook, and they have Instagram, which is getting no credit whatsoever."
See Also: Here's Why Meta Investors Remain Divided Over Board Member Election
Meta is scheduled to announce its first-quarter financial results after the market closes on April 27, according to data from Benzinga Pro.
- JMP Securities analyst Ronald Josey maintained Meta with a Market Outperform rating and lowered the price target from $350 to $265.
- Rosenblatt analyst Barton Crockett initiated coverage on Meta with a Neutral rating and announced a $228 price target.
FB Price Action: Meta has traded between $185.82 and $384.33 over a 52-week period.
The stock was up 3.10% at $217.13 at the close on Tuesday.
Photo: geralt from Pixabay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
