{"id":18432,"date":"2023-06-05T13:18:07","date_gmt":"2023-06-05T17:18:07","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/why-metas-stock-is-still-highly-attractive-after-a-125-surge-this-year-according-to-one-bull\/"},"modified":"2023-06-05T13:18:08","modified_gmt":"2023-06-05T17:18:08","slug":"why-metas-stock-is-still-highly-attractive-after-a-125-surge-this-year-according-to-one-bull","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18432","title":{"rendered":"Why Meta\u2019s stock is still \u2018highly attractive\u2019 after a 125% surge this year, according to one bull"},"content":{"rendered":"
\n

Meta Platforms Inc. has already translated artificial intelligence into revenue benefits, and one analyst thinks a continuation of that trend could power its stock further. <\/p>\n

While other companies talk up their potential to capitalize on AI, Meta
\n META,
\n +0.23%<\/bg-quote>
\n has already racked up tangible results from its efforts, according to Oppenheimer\u2019s Jason Helfstein. Thanks to initiatives like AI-driven recommendations and AI-powered tools for advertisers, Meta has seen \u201crevenue outperformance\u201d relative to its peers, Helfstein noted. He expected Meta will stay an outperformer through 2024. <\/p>\n

\n

See more: Meta climbs into \u2018AI Sandbox\u2019 with tools for advertisers<\/strong><\/p>\n

Helstein boosted his price target on Meta\u2019s stock to $350 from $285 in a Sunday note to clients, with his new target implying a 27% upside from current levels. He acknowledged that Meta shares have run up about 125% so far this year but still rated them at outperform and called them \u201chighly attractive,\u201d noting that they were trading at a roughly 30% discount to the Nasdaq on the basis of 2024 price-to-earnings estimates, as of the publication of his note. <\/p>\n

The discount suggests Wall Street is skittish about Meta\u2019s ability to achieve revenue expectations this year and next, in Helfstein\u2019s view, or that investors are concerned about \u201cterminal growth.\u201d AI \u201csolves\u201d for that, he wrote.<\/p>\n

Don\u2019t miss: Meta teases new Quest 3 VR headset as Apple gears up for a launch of its own<\/strong><\/p>\n

Helfstein was upbeat about new AI initiatives for Meta, including work to incorporate AI into click-to-message ads and chatbots, which would let smaller businesses automate customer-service chats. As Meta expands into e-commerce marketplaces and customer support for small- and medium-sized businesses (SMBs), it could tap into a $1.2 trillion market. <\/p>\n

\u201cWe believe the industry is working toward generating synthetic video ads for SMBs, made using AI and edited on a per-user basis to increase ROI,\u201d or return on investment, he continued. <\/p>\n

Beyond OpenAI: 7 promising startups that have saved lives, sped up drug development and improved manufacturing<\/strong><\/p>\n

Meta shares are ahead about 1% in Monday morning action and the name is on track to finish with a market capitalization above $700 billion for the first time since Feb. 2, 2022, according to Dow Jones Market Data. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Meta Platforms Inc. has already translated artificial intelligence into revenue benefits, and one analyst thinks a continuation of that trend could power its stock further. While other companies talk up their potential to capitalize on AI, Meta META, +0.23% has already racked up tangible results from its efforts, according to Oppenheimer\u2019s Jason Helfstein. Thanks to […]<\/p>\n","protected":false},"author":1,"featured_media":18433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-18432","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nWhy Meta\u2019s stock is still \u2018highly attractive\u2019 after a 125% surge this year, according to one bull | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Meta Platforms Inc. has already translated artificial intelligence into revenue benefits, and one analyst thinks a continuation of that trend could power\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=18432\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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