12 Stocks on Jim Cramer’s Radar

10. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holdings: 256

Social media giant Meta Platforms, Inc. (NASDAQ:META)’s shares are down by 1.8% over the past year and flat year to date. Citizens Financial discussed the firm on February 10th as it kept a Market Outperform rating and a $900 share price target. The firm remarked that Meta Platforms, Inc. (NASDAQ:META) was benefiting from a growth in Instagram engagement as global time spent on the application had increased by 18% and US usage had jumped by 16% for six months. DBS reiterated a Buy rating and a $1,000 share price target. Last week, a report also surfaced to suggest that Meta Platforms, Inc. (NASDAQ:META) was preparing to spend a whopping $65 million for lobbying efforts in the upcoming US midterm elections. Its efforts are directed towards promoting AI-friendly legislation, and they came to light as CEO Mark Zuckerberg struggled to defend against claims in court regarding young users and social media addiction. Cramer commented on the election spending:

“[Efforts to invest in the mid terms highest in 20 years] It’s about time. I mean I think these companies they’re playing with fire. There was a big piece in the FT, about how all over the world, they’re trying to get kids to not read Instagram. I think they’ll fail. It’s kind of like when you tell your kids, I don’t want you drinking, and they’re like, wow, I got to think about drinking. I mean you can’t ban it for heaven’s stake. But I think that it’s always good. I think that they have not had the kind of influence that you’d like in Washington I think they’re getting smarter. They’re no longer arrogant either. I mean that is not, smart. Not a reason to buy Meta, not a reason. You need to see E.P.S.”