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Meta Platforms (META) Launches WhatsApp Chat Lock Globally

Zacks Equity Research
·4-min read

Meta Platforms META recently launched a new feature in WhatsApp, which protects user’s intimate conversations with an extra layer of security.
 
The new feature allows to put a conversation behind a folder that can only be accessed with the owner’s password or biometric. It also automatically hides the conversation details from notifications.

This secure conversation experience is ideal for users who share their phones with a family member or someone else and doesn’t want to reveal their personal chats.

Meta expects to add more options for Chat Lock, including locks for companion devices and creating a custom password for chats.

Meta Platforms, Inc. Price and Consensus

 

Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote

 

META Leveraging on Family of Apps to Benefit Top-line

META banks on a strong product pipeline with increased engagement for its Family of Apps globally. It has been benefiting from significant investments and updates in Facebook, Instagram and WhatsApp, making it more personalized and user friendly.

This approach is driving user base. In first-quarter 2023, Monthly Active People or MAP in Family of Apps increased 5% year over year to 3.81 billion. Ad impressions delivered across Family of Apps increased 26% year over year.

Revenues from Family of Apps (98.8% of total revenues), which includes Facebook, Instagram, Messenger, WhatsApp and other services, moved up 4% year over year to $28.3 billion in first quarter of 2023. Family of Apps advertising revenues were $28.1 billion, up 4.1% year over year or 7% on a constant-currency basis.

Meta’s initiatives to offer more personalized features is noteworthy. This month, it introduced new personalization controls for reels that customizes videos per users’ choice making it more relevant.

Meta also began testing the program to pay creators based on the performance of their public reels, not the earnings of ads on their reels. This allows creators to earn money by shifting focus toward engaging content creation.

In April 2023, WhatsApp launched new abilities for users to pay directly to local small businesses from WhatsApp chat in Brazil, while reducing the hassle of managing different websites and apps for shopping and payments.

Moreover, WhatsApp launched a new WhatsApp app for Windows desktop in March that loads faster and enables group video calls with up to eight people and audio calls with up to 32 people. It also made improvements to device linking and better syncing across multiple devices.

Zacks Rank & Key Picks

Currently, Meta sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of Meta have gained 98.5% year to date outperforming the Zacks Computer and Technology sector, which increased 21.8% in the same time frame.

The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 revenues has been pegged at $30.65 billion indicating a year over year growth of 6.33%. Earnings estimates have remained unchanged at $2.79 in the past 30 days.

Apart from META, Momo MOMO, Dropbox DBX and BlackLine BL are some similar-ranked stocks from the broader sector which investors can consider.

Momo shares have gained 6.6% year to date. The Zacks Consensus Estimate for Momo’s first-quarter 2023 revenues has been pegged at $393.8 million indicating a year over year decline of 20.7%. Earnings estimates have remained unchanged to 32 cents in the past 30 days.

Dropbox shares have gained 1.1% year to date. The Zacks Consensus Estimate for Dropbox’s second-quarter 2023 revenues has been pegged at $613.64 million indicating a year over year growth of 7.15%. Earnings estimates have remained unchanged to 43 cents in the past 30 days.

BlackLine shares have declined 21% year to date. The Zacks Consensus Estimate for BlackLine’s second-quarter 2023 revenues has been pegged at $143.88 million indicating a year over year growth of 11.99%. Earnings estimates have remained unchanged to 28 cents in the past 30 days.

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