Citizens JMP Reiterates Outperform Rating on Meta Platforms (META)

Meta Platforms, Inc. (NASDAQ:META) is among the Stocks That Could 10X in the Next 3 Years. On September 11, Andrew Boone from Citizens JMP reiterated a Market Outperform rating on Meta Platforms, Inc. (NASDAQ:META) with a $900 price target.

The analyst highlighted the company’s expansion of Reels trending ads to all advertisers for the holiday season. He noted that early analysis shows that these ads boost unaided brand awareness by 20%; this figure matches that of YouTube Select and surpasses TikTok Pulse.

Moreover, Meta Platforms, Inc. (NASDAQ:META) is also testing new ad formats, including Advantage+ catalog and app ads, alongside single-image and video ads on its Threads platform. Boone sees this as a positive sign as the company is leveraging multiple tools to improve advertising performance.

The analyst noted that these efforts have positioned the company for sustained growth. Moreover, Threads, which has over 400 million monthly active users, also remains largely underutilized in terms of monetization, leaving further room for growth.

Meta Platforms, Inc. (NASDAQ:META) builds technologies that connect people through social apps and immersive devices.

While we acknowledge the potential of META to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than META and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.