Meta Stock (META) is soaring in premarket trading today, gaining nearly 20%, after management reported Q4 results and guidance that relieved fears, prompting a slew of Wall Street analysts to upgrade the stock and praise the company’s “year of efficiency.
- Bank of America adjusted targets – buy from neutral – price target $220.
- J.P. Morgan reiterated overweight rating – raised price target to $225.
- Rosenblatt upgraded to buy from neutral – raised it’s price target to $220.
Analysts expectations were for Meta Stock (META) to earn $2.23 per share on $31.69B in revenue.
Top line beat expectations by roughly $475 million.
Meta (META) Reality Labs unit accounted for $727M in quarterly sales, also topping estimates.
META Stock Explodes 20%
Meta Stock (META) has been grinding higher for weeks, pausing at the 200d moving average on Wednesday. At the same time, MarketSmith’s accumulation/distribution rating confirmed institutions were adding positions into earnings. Now that price action is clear of the 200d, we are watching for opportunities to start building positions.
- We are in no rush. We’ll look for potential dips to start buying shares.
- We are targeting the gap over head and analysts targets as they align at this zone.
Note the stocks below the chart from the “stocks breaking out scan.” Tuesday we alerted members to actionable setups on stocks from the scan.
Wednesday we wrote a blog post highlighting additional stocks that were showing signs of accumulation.