Meta Platforms Analysts Raise Their Forecasts After Strong Q2 Results, Shares Surge

Meta Platforms, Inc. META reported better-than-expected second-quarter financial results.

Meta Platforms reported second quarter revenue of $32 billion, which was up 11% year-over-year. The revenue total came in ahead of a Street consensus estimate of $31.12 billion. Earnings per share totaled $2.98 in the second quarter, beating a Street consensus estimate of $2.91.

Meta shares jumped 10.1% to $328.73 in pre-market trading.

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These analysts made changes to their price targets on Meta following earnings announcement.

• Wells Fargo boosted the price target on Meta from $313 to $389. Wells Fargo analyst Ken Gawrelski upgraded the stock from Equal-Weight to Overweight.
• Barclays increased the price target on Meta from $320 to $410. Barclays analyst Ross Sandler maintained an Overweight rating.

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