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.

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