Meta's earnings are the best in 10 years! 26/10/2023
Meta Platforms Inc. reported record quarterly revenue growth over the past ten years since the company went public. Revenue amounted to 34.15 billion USD (a relative increase of 23%), and net profit reached 11.58 billion USD (a relative increase of 164%).
The main reasons for such outstanding results were the increase in demand for advertising and the reduction in costs for the development of artificial intelligence technologies. If we take as a basis the analysts' forecast of 13.06% for META's revenue growth in the next four quarters, then relative to the P/S (capitalisation/revenue) multiplier, the fair price of the company's shares could reach 491.70 USD.
Therefore, today, we focus on the Meta Platforms Inc. (NASDAQ: META) stock chart.
On the D1 timeframe, support has formed at 299.50, with resistance at 328.84. META's shares are becoming cheaper due to a negative market background. However, if quotes consolidate above 306.47, the trend may change.
On the H1 timeframe, after the level at 301.56 is broken through, there is a chance that the new upward movement starts. In the medium term, the target for the price increase can be around 328.84.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The main reasons for such outstanding results were the increase in demand for advertising and the reduction in costs for the development of artificial intelligence technologies. If we take as a basis the analysts' forecast of 13.06% for META's revenue growth in the next four quarters, then relative to the P/S (capitalisation/revenue) multiplier, the fair price of the company's shares could reach 491.70 USD.
Therefore, today, we focus on the Meta Platforms Inc. (NASDAQ: META) stock chart.
On the D1 timeframe, support has formed at 299.50, with resistance at 328.84. META's shares are becoming cheaper due to a negative market background. However, if quotes consolidate above 306.47, the trend may change.
On the H1 timeframe, after the level at 301.56 is broken through, there is a chance that the new upward movement starts. In the medium term, the target for the price increase can be around 328.84.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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