Singapore markets close in 1 hour 4 minutes
  • Straits Times Index

    3,106.50
    -13.74 (-0.44%)
     
  • Nikkei

    26,423.47
    +269.66 (+1.03%)
     
  • Hang Seng

    21,856.97
    +26.62 (+0.12%)
     
  • FTSE 100

    7,205.82
    -26.83 (-0.37%)
     
  • BTC-USD

    20,240.10
    +1,121.94 (+5.87%)
     
  • CMC Crypto 200

    440.41
    +20.27 (+4.82%)
     
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • Dow

    31,097.26
    +321.86 (+1.05%)
     
  • Nasdaq

    11,127.84
    +99.14 (+0.90%)
     
  • Gold

    1,807.30
    +5.80 (+0.32%)
     
  • Crude Oil

    109.86
    +1.43 (+1.32%)
     
  • 10-Yr Bond

    2.8890
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,436.86
    -0.66 (-0.05%)
     
  • Jakarta Composite Index

    6,720.35
    +81.18 (+1.22%)
     
  • PSE Index

    6,309.99
    +126.37 (+2.04%)
     

Meta Platforms 'Stuck in the Real World' Says HSBC

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

By Sam Boughedda

Investing.com -- Meta Platforms Inc's (NASDAQ:FB) price target was cut to $200 from $225 by HSBC analyst Nicolas Cote-Colisson on Thursday.

The analyst, who has a Hold rating on the stock, wrote in a note to clients that the company is "stuck in the real world." Meta is facing short-term challenges such as proving it can effectively compete against fast-growing platforms such as TikTok, the consequences of the Russian invasion of Ukraine, and disposable household incomes being squeezed globally, which may represent a headwind for consumption and advertising volumes, he said.

Cote-Colisson added that the company also still faces multiple regulatory challenges, while it is building an expensive future in the metaverse space with a very ambitious plan to build the next computing platform and its Reality Labs division making large investments.

"Given the experience and the tech stack the company has built since the acquisition of Oculus in 2014, we agree with CEO comments that Meta can 'meaningfully be better at monetization than others in the space'. But for now, costs are a certainty, and the platform has not yet proven its attraction and may not prove to be successful in the next few years," the analyst wrote.

Meta stock is down 1.3% Thursday.

Related Articles

Meta Platforms 'Stuck in the Real World' Says HSBC

Growth stocks drag Wall Street lower on rate hike worries

Factbox-U.S. companies offering abortion travel benefits

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting