Analysts Say Buy These 5 Stocks Despite Earnings Miss

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

Number of Hedge Fund Holders: 200    

Meta Platforms, Inc. (NASDAQ:META) is a tech firm that owns and runs social media platforms. On July 27, the company posted earnings for the second quarter of 2022, reporting earnings per share of $2.46, missing market estimates by $0.09. The revenue over the period was $28.8 billion, down close to 1% compared to the revenue over the same period last year and missing analyst expectations by $130 million. The monthly active users on the Facebook platform were 2.93 billion as of June 30, an increase of 1% year-over-year. 

On July 28, MKM Partners analyst Rohit Kulkarni maintained a Buy rating on Meta Platforms, Inc. (NASDAQ:META) stock and lowered the price target to $240 from $295, predicting that the shares would remain range-bound in the coming months. 

At the end of the first quarter of 2022, 224 hedge funds in the database of Insider Monkey held stakes worth $19 billion in Meta Platforms, Inc. (NASDAQ:META), compared to 248 in the preceding quarter worth $31 billion. 

In its Q4 2021 investor letter, Boyar Value Group, an asset management firm, highlighted a few stocks and Meta Platforms, Inc. (NASDAQ:META) was one of them. Here is what the fund said:

“Corporate executives can have many different reasons for selling shares (anticipation of tax law changes, philanthropy, diversification, and much more), but the sheer number of billionaire founders who sold shares in 2021 should raise eyebrows and might well be signaling a market top. Bloomberg’s Ben Steverman and Scott Carpenter report not only that Mark Zuckerberg of Meta Platforms, Inc. (NASDAQ:META) (formerly known as Facebook) sold shares in his company almost every day last year but also that the founders of Google sold ~$3.5 billion worth of stock (the first time either Sergey Brin or Larry Page has sold shares since 2017).”

You can also take a peek at 10 Cheap Dividend Kings with Over 2% Yield and 12 Best Semiconductor Stocks To Invest In Right Now.

Follow Insider Monkey on Twitter