5 Most Promising Tech Stocks According to Analysts

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

One-Year Price Target: 212.44

Meta Platforms, Inc. (NASDAQ:META) is back in action as the company’s latest quarterly results showed growth might be returning to Facebook. Meta Platforms, Inc. (NASDAQ:META) also has investments in the AI space which could benefit it in the short and long term as AI wars begin. Recently, Tigress Financial Partners analyst Ivan Feinseth gave bullish comments about Meta Platforms, Inc. (NASDAQ:META)’s user growth and AI investments in a note. The analyst said that Meta Platforms, Inc. (NASDAQ:META)’s “most valuable asset” is its “massive and ever-growing” user base.  The analyst thinks Meta Platforms, Inc. (NASDAQ:META) can monetize its family of apps and new product features.

Vulcan Value Partners made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q4 2022 investor letter:

“During the quarter we sold Meta Platforms, Inc. (NASDAQ:META) after owning the business for over four years. The fundamentals of our investment case were based on the tremendous number of users that spent time on its various properties and the advertising dollars that flowed to the company as a result. We believed its competitive advantage was that the platform was, more or less, a monopoly on people’s time and attention. The rise of TikTok and other emerging platforms has given us pause on the company’s ability to maximize that advantage. From our perspective, the idea of “one platform to rule them all” may now be a thing of the past as social offerings have become more fragmented.

In addition, though our research has indicated that much of the initial damage done from Apple’s iOS 14.5 privacy changes has been repaired, we remain concerned with Apple’s influence over the digital advertising ecosystem. Apple is one of the largest gatekeepers to Meta’s mobile services, and it has become more difficult for us to gauge the pace of change emerging from Apple relating to privacy, as well as evaluating Apple’s ambitions in advertising…” (Click here to read the full text)