Five Stocks Capturing Investors' Attention Today: SoFi Technologies, Oklo, Meta, Ulta Beauty, and BigBear.ai
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Updated: 4 hour ago
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Source: Benzinga
Market Performance: Major U.S. indices closed mixed, with the Dow Jones down 0.07%, the S&P 500 up 0.1%, and the Nasdaq gaining 0.2%.
SoFi Technologies Update: SoFi's stock rose 1.82% but fell nearly 6% in after-hours trading after announcing a $1.5 billion common stock offering to strengthen its capital position.
Meta Platforms Developments: Meta's stock increased by 3.43% following reports of potential cuts to metaverse spending and layoffs, as the company shifts focus towards AI.
Ulta Beauty Earnings Report: Ulta Beauty's stock fell 1.94% but surged in after-hours trading after reporting stronger-than-expected third-quarter results and raising its full-year forecasts.
META.O$0.0000%Past 6 months

No Data
Analyst Views on META
Wall Street analysts forecast META stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for META is 838.14 USD with a low forecast of 655.15 USD and a high forecast of 1117 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
Wall Street analysts forecast META stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for META is 838.14 USD with a low forecast of 655.15 USD and a high forecast of 1117 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
Current: 639.600

Current: 639.600

Neutral -> Buy
upgrade
$718
Reason
Arete analyst Rocco Strauss upgraded Meta Platforms to Buy from Neutral with a $718 price target.
Outperform
initiated
$800
Reason
BNP Paribas Exane initiated coverage of Meta Platforms with an Outperform rating and $800 price target.
Outperform
initiated
$800
Reason
As previously reported, BNP Paribas Exane initiated coverage of Meta Platforms with an Outperform rating and $800 price target. Meta, which is "only getting better at monetizing" its 3B user base, can afford to aggressively invest in AI to stay ahead of competitors and leverage its dominance in social media to keep winning in social commerce, the analyst tells investors.
Outperform
maintain
$920
Reason
Wedbush is adding Meta Platforms to the firm's Best Ideas List and maintains a price target of $920 on the Outperform-rated stock. Sentiment has eased following Q3 results, with investor caution building around the greater expense and capex trajectory implied by management's guidance, the firm notes. Following results, Wedbush is encouraged by robust growth in Meta's core advertising business, positive commentary regarding Meta AI and Superintelligence Labs, and momentum associated with the ongoing rollout of new AI-infused hardware. The firm believes the risk/reward is compelling with limited downside from here following the recent pullback in shares.
About META
Meta Platforms, Inc. is building human connections, powered by artificial intelligence and immersive technologies. The Company's products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) and mixed reality (MR) headsets, augmented reality (AR), and wearables. It also helps people discover and learn about what is going on in the world around them, enabling people to share their experiences, ideas, photos, videos, and other content with audiences ranging from their closest family members and friends to the public at large. The Company's segments include Family of Apps (FoA) and Reality Labs (RL). FoA segment includes Facebook, Instagram, Messenger, WhatsApp and Threads. RL segment includes its virtual, augmented, and mixed reality related consumer hardware, software and content. Its product offerings in VR include its Meta Quest devices, as well as software and content available through the Meta Horizon Store.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.