What's Going On With Meta Stock Wednesday?

Meta Platforms Inc. (NASDAQ:META) is in the spotlight ahead of second quarter earnings Wednesday. Here’s what you need to know.

What To Know: Analysts expect earnings of $5.86 per share and revenue of $44.58 billion. The company guided for revenue between $36.5 billion and $39 billion.

In the first quarter, Meta reported earnings of $6.83 per share, topping estimates of $5.28. Revenue came in at $42.31 billion, above the $41.39 billion consensus.

Meta has consistently beaten both earnings and revenue estimates in recent quarters.

Analyst Changes: Ahead of the earnings report, multiple analysts have issued price target adjustments.

• Benchmark analyst Mark Zgutowicz maintained a Buy rating on Meta and raised the price target from $640 to $800.
• Scotiabank analyst Nat Schindler maintained a Sector Perform rating on Meta and raised the price target from $525 to $675.
• Bernstein analyst Mark Shmulik maintained an Outperform rating on Meta and raised the price target from $700 to $775.
• Stifel analyst Mark Kelley maintained a Buy rating on Meta and raised the price target from $655 to $845.

The consensus price target for Meta is $759.95, with the lowest price target at $600 and the highest price target at $935.

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META Price Action: At the time of publication, Meta stock is trading flat at $699.88, according to data from Benzinga Pro.

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