{"id":32241,"date":"2023-07-06T12:46:36","date_gmt":"2023-07-06T16:46:36","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/heres-how-much-meta-stock-could-surge-thanks-to-twitter-rival-threads\/"},"modified":"2023-07-06T12:46:38","modified_gmt":"2023-07-06T16:46:38","slug":"heres-how-much-meta-stock-could-surge-thanks-to-twitter-rival-threads","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=32241","title":{"rendered":"Here\u2019s How Much Meta Stock Could Surge Thanks To Twitter Rival Threads"},"content":{"rendered":"
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Topline<\/h2>\n

Multiple analysts upgraded their outlook for Meta stock in the first hours following the social media giant\u2019s launch of Twitter competitor Threads, suggesting Meta could soon tack on another $150 billion in market valuation despite its buzzy new platform having no revenue prospects\u2014yet. <\/strong><\/p>\n

Key Facts<\/h2>\n
\n
\n

CFRA analyst Angelo Zino upgraded his price target for Meta from $300 to $350 on Thursday thanks to the expectation the company \u201cwill find success penetrating\u201d the text-based social media space.<\/p>\n<\/p><\/div>\n

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That implies 18% upside from Meta\u2019s current $296 share price, indicating Meta\u2019s valuation could soar from $755 billion to over $900 billion.<\/p>\n<\/p><\/div>\n

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KeyBanc Capital Markets analyst Justin Patterson upgraded his price target for Meta from $280 to $335 in a Wednesday note despite calling Threads an \u201cimmaterial contributor\u201d to the company\u2019s broader outlook.<\/p>\n<\/p><\/div>\n

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Still, Patterson said Threads could bring in up to $6.7 billion in revenue should it sway a considerable amount of converts from Twitter; the more bullish Zino noted he does not forecast Meta\u2019s Threads to generate any revenue until at least 2025.<\/p>\n

<\/fbs-ad>\n <\/div>\n

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Shares of Meta inched up nearly 1% in early trading, moving against broader market losses and are on their way to their highest close since last February.<\/p>\n<\/p><\/div>\n<\/div>\n

Crucial Quote<\/h2>\n

\u201cMeta timed the launch well given a slew of issues at Twitter since Musk’s takeover and appetite for many to have an alternative option,\u201d Zino wrote. Some 10 million users signed up for Threads in its first seven hours of existence after launching Wednesday evening.<\/p>\n

Key Background<\/h2>\n

Meta was the second best-performing stock on the S&P 500 during 2023\u2019s first half, gaining 138%, though it remains more than 20% below its 2021 peak. Driving that surge was growing advertising revenue amid cost-cutting measures, as well as optimism about monetization for Meta\u2019s short-form video Reels platform.<\/p>\n

Big Number<\/h2>\n

$61 billion. That\u2019s how much richer Meta CEO Mark Zuckerberg is Thursday than he was at the end of 2022. Zuckerberg is the seventh-richest man on earth, according to Forbes<\/em>\u2019 calculations, though his $105 billion fortune is about $140 billion less than that of Twitter owner Elon Musk, who is the wealthiest person on the planet.<\/p>\n

Tangent<\/h2>\n

Leading up to the launch of Threads, Musk and Zuckerberg entered into a public feud, with each of the middle-aged tech bros showing off their martial arts training ahead of a possible fight between the two. Asked about whether Zuckerberg\u2019s uncharacteristic step into the spotlight impacted his view on Meta, Zino told Forbes<\/em> that Musk and Zuckerberg\u2019s \u201cpublic beef\u2026is a nice side-show\u201d but it\u2019s nothing to \u201cmake anything\u201d of. Tesla, the electric vehicle maker helmed by Musk, dropped as much as 65% last year as Musk completed his controversial takeover of Twitter.<\/p>\n

<\/h2>\n

Zuckerberg Says Threads Crossed 10 Million Signups In First Seven Hours As Musk Rails Against Instagram (Forbes<\/em>)<\/p>\n

No Hashtags, No Chronological Timeline And Mobile Only: How Meta’s ‘Threads’ Differs From Twitter (Forbes<\/em>)<\/p>\n<\/div>\n

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

Topline Multiple analysts upgraded their outlook for Meta stock in the first hours following the social media giant\u2019s launch of Twitter competitor Threads, suggesting Meta could soon tack on another $150 billion in market valuation despite its buzzy new platform having no revenue prospects\u2014yet. 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