Has Facebook Meta Platforms Stock Entered Buy Territory
May 30th 2022, 2:21 am
The stock of Facebook parent Meta Platforms $FB has plummeted 43 percent this year for a number of reasons.
Due to Apple's $AAPL adjustments and Instagram's ongoing TikTok's rivalry, the social media company's revenues fell well short of Wall Street estimates. In order for Meta to live up to its name, it will need to spend a lot of money on building the metaverse. In 2023, Meta's revenues are predicted to rise by 16 percent, with free cash flow forecast to reach $31 billion. Compared to the S&P 500, Meta stock is now trading at a discount of 15.7 times its 12-month future earnings.