Mate Price Target Raised as AI is Expected to Drive Outperformance
<p>Oppenheimer analysts increased their price target to $350 (previously $285) and reaffirmed their Outperform rating on <a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms, Inc. (NASDAQ:META)</a>, noting they believe the company is well positioned to generate higher pricing and engagement through its investments in AI. </p>
<p>These investments have been the primary driver behind the company's superior performance compared to the digital advertising market in Q1/2023, and analysts expect this trend to continue until 2024. </p>
<p>Meta offers Advantage+ ads powered by AI, along with other ad tools through AI Sandbox, which can modify text, images, and backgrounds. Notably, in Q1/23, the company’s ad revenue surpassed that of its competitors for the first time since Q2/21.</p>
<p>Furthermore, the analysts view AI as an opportunity for Meta to expand its Total Addressable Market (TAM) into e-commerce marketplaces and small and medium-sized business (SMB) customer support.</p>

NASDAQ:META