Stock Market News

Meta Platforms Stock Selloff ‘Feels Overdone’ – Analyst

2022.04.22 16:20

Meta Platforms Stock Selloff 'Feels Overdone' - Analyst
Meta Platforms (FB) Stock Selloff ‘Feels Overdone’ – Analyst

BMO analyst Daniel Salmon reiterated a Market Perform rating on Meta Platforms (NASDAQ:FB) although he sees a material for a move to Outperform.

The analyst notes that the downgrade call from March “was of the tactical variety,” as he still believes that FB remains a vital online advertising destination.

However, “the potential for continued sequential daily active-user declines brings the possibility of further multiple contraction into play,” which makes Salmon stay at MP.

“We think investors should look for stability there before forming a longer-term thesis,” the analyst added in a client note.

Salmon adds that the near-term visibility remains low.

On the valuation front, Salmon says that 7.0x 2023E EV/EBITDA and 13.1x 2023E P/E are “largely in line with its two-year historical average multiples.” At these levels, it feels that FB stock selloff “feels overdone,” the analyst concluded.

Salmon lowered the price target to $225.00 per share from $290.00.

By Senad Karaahmetovic

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 72,376.39 1.90%
ethereum
Ethereum (ETH) $ 2,641.33 0.74%
tether
Tether (USDT) $ 0.999498 0.03%
bnb
BNB (BNB) $ 602.73 0.51%
solana
Solana (SOL) $ 179.82 0.54%
usd-coin
USDC (USDC) $ 0.999764 0.07%
xrp
XRP (XRP) $ 0.524404 0.20%
dogecoin
Dogecoin (DOGE) $ 0.176547 7.19%
staked-ether
Lido Staked Ether (STETH) $ 2,641.04 0.82%
tron
TRON (TRX) $ 0.166846 1.58%
the-open-network
Toncoin (TON) $ 5.05 0.32%
cardano
Cardano (ADA) $ 0.358068 3.62%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 4.84%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,124.81 1.00%
avalanche-2
Avalanche (AVAX) $ 26.54 0.53%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 72,150.33 1.67%
weth
WETH (WETH) $ 2,640.37 0.71%
chainlink
Chainlink (LINK) $ 11.98 4.09%
bitcoin-cash
Bitcoin Cash (BCH) $ 379.66 0.24%
polkadot
Polkadot (DOT) $ 4.17 0.18%
sui
Sui (SUI) $ 2.06 11.51%
leo-token
LEO Token (LEO) $ 6.09 1.22%
usds
USDS (USDS) $ 0.997467 5.38%
litecoin
Litecoin (LTC) $ 72.69 0.97%
near
NEAR Protocol (NEAR) $ 4.38 1.42%
aptos
Aptos (APT) $ 10.00 3.63%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,777.07 0.75%
uniswap
Uniswap (UNI) $ 7.92 0.80%
pepe
Pepe (PEPE) $ 0.00001 0.94%
bittensor
Bittensor (TAO) $ 524.60 0.20%
internet-computer
Internet Computer (ICP) $ 8.12 1.32%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.31 1.02%
dai
Dai (DAI) $ 0.999534 0.11%
monero
Monero (XMR) $ 163.58 0.30%
ethereum-classic
Ethereum Classic (ETC) $ 19.32 1.09%
stellar
Stellar (XLM) $ 0.096353 1.60%
kaspa
Kaspa (KAS) $ 0.112226 6.12%
blockstack
Stacks (STX) $ 1.87 0.33%
whitebit
WhiteBIT Coin (WBT) $ 19.02 0.77%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.06%
dogwifcoin
dogwifhat (WIF) $ 2.64 1.45%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.333879 0.47%
first-digital-usd
First Digital USD (FDUSD) $ 0.99919 0.12%
okb
OKB (OKB) $ 39.34 1.93%
immutable-x
Immutable (IMX) $ 1.39 1.69%
aave
Aave (AAVE) $ 151.49 1.38%
filecoin
Filecoin (FIL) $ 3.71 1.69%
arbitrum
Arbitrum (ARB) $ 0.542425 1.88%
optimism
Optimism (OP) $ 1.70 2.47%
thorchain
THORChain (RUNE) $ 6.09 0.34%