Meta Platforms: Bottom Test

 

  • Meta Platforms is set to retest the recent lows at $185.
  • The company faces tough user comps due to COVID pull forwards similar to what has hit Netflix.
  • The stock is cheap at less than 14x '23 EPS targets, but a bounce off the recent lows is key to whether the stock is safe to buy here.
  • Looking for a helping hand in the market? Members of Out Fox The Street get exclusive ideas and guidance to navigate any climate. Learn More »
After a disastrous start to 2022, Meta Platforms (NASDAQ:FB) appears to have set a bottom with the steep plunge in early February leading to a low of $185 in March. The social media company remains in growth mode despite the obvious concerns about the advertising business model and COVID pull forwards in 2021. My investment thesis is vastly more Bullish on the stock trading near $200 with a lot of the expected near-term weakness built into the price.

Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please review the disclaimer page for more details. 

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