{"id":28139,"date":"2023-06-27T10:26:13","date_gmt":"2023-06-27T14:26:13","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/meta-stock-has-been-soaring-it-isnt-just-cost-cutting\/"},"modified":"2023-06-27T10:26:14","modified_gmt":"2023-06-27T14:26:14","slug":"meta-stock-has-been-soaring-it-isnt-just-cost-cutting","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28139","title":{"rendered":"Meta Stock Has Been Soaring. It Isn&#8217;t Just Cost-Cutting."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000679445\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Shares of Facebook\u2019s parent<br \/>\n        Meta Platforms<br \/>\n       have soared 130% this year. Analysts at Citi think they can go much higher.<\/p>\n<p>It isn\u2019t just cost-cutting and layoffs that are helping the company. Advertising growth on the Reels video platform is going strong, leading analysts led by Ronald Josey to lift their price target for the shares to $360 from $315.<\/p>\n<div class=\"paywall\">\n<p>Citi has a proprietary tracking technique to keep up with Reels ad loads. It shows 17% growth in the quarter so far, compared with a 16% gain in the first quarter.<\/p>\n<p>\u201cReels is experiencing greater advertiser adoption given its Lo-Fi approach to ads, newer ad products, and continued engagement growth,\u201d Citi said in the note. What\u2019s more, its investments in artificial intelligence \u201ccan deliver incremental usage across its users, creators, and advertisers.\u201d<\/p>\n<p>Meta stock (ticker: META) rose 1.4% in premarket trading Tuesday to $282.27.<\/p>\n<p>Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/meta-stock-price-layoffs-reels-advertising-30065daa?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Facebook\u2019s parent Meta Platforms have soared 130% this year. Analysts at Citi think they can go much higher. It isn\u2019t just cost-cutting and layoffs that are helping the company. Advertising growth on the Reels video platform is going strong, leading analysts led by Ronald Josey to lift their price target for the shares [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":27990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-28139","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Meta Stock Has Been Soaring. It Isn&#039;t Just Cost-Cutting. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Facebook\u2019s parent Meta Platforms have soared 130% this year. Analysts at Citi think they can go much higher. 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