The company announced 11,000 layoffs in November and a charge of 4.610 million has been recorded in the year, related to these “restructuring efforts”, which also include the cancellation of office and project leases.
Thus, it is positioned as one of the best on the Nasdaq so far this year, with advances that are close to 7.2% per year, with an advance of 8.2% in the week and 69% in the last quarter. However, given its falls last year, year-on-year Meta stands with a fall of 53.9%. Its current capitalization advances towards 396,000 million dollars. To all this, the double-digit advance that we saw last night, of 20%, will be added, and that placed the price of its shares above $180 per share.
Should I buy?
Goldman Sachs raised its price target to Goalfrom 164 dollars to $215 per sharewhile reiterating his ‘buy’ recommendation after the company, parent of Facebook, Instagram and WhatsApp, has presented its results.
As Goldman Sachs insiders commented in a recent report, “Meta produced a much more balanced narrative than it did just a quarter ago.”
They believe the company is “steering away from industry headwinds” while “executing well on investments in AI, automation, and measurement/attribution going into 2023.”
In the fourth quarter of 2022, Meta has reported earnings per share (EPS) of $1.76, below the $2.24 anticipated by consensus, but the income of 32,170 million have exceeded the market forecast by almost 500 million.
The technology company recently announced the dismissal of more than 11,000 employees13% of its workforce worldwide.
Source: Ambito
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