Meta Platforms, Inc. (NASDAQ:META) reported worse-than-expected Q3 EPS and issued Q4 revenue guidance with a midpoint below estimates.
The company also guided FY23 expenses of $96 billion to $101 billion.
Meta Platforms shares dropped 22.1% to $101.20 on Thursday.
These analysts made changes to their price targets on Meta Platforms following the release of quarterly results.
- Cowen & Co. cut price target on the stock from $205 to $135. Cowen & Co. analyst John Blackledge downgraded the stock from Outperform to Market Perform.
- Morgan Stanley lowered Meta Platforms price target from $205 to $105. Morgan Stanley analyst Brian Nowak downgraded the stock from Overweight to Equal-Weight.
- Piper Sandler reduced the price target on Meta Platforms from $175 to $116. Piper Sandler analyst Thomas Champion maintained a Neutral rating on the stock.
- Barclays cut price target on Meta Platforms from $250 to $165. Barclays analyst Ross Sandler maintained the stock with an Overweight.
- Mizuho lowered the price target on Meta Platforms from $180 to $160. Mizuho analyst James Lee maintained the stock with a Buy.
- Wolfe Research cut the price target on Meta Platforms from $170 to $140. Wolfe Research analyst Deepak Mathivanan maintained the stock with an Outperform.
- Credit Suisse lowered the price target on Meta Platforms from $174 to $145. Credit Suisse analyst Stephen Ju maintained an Outperform rating on the stock.
- Bernstein reduced Meta Platforms price target from $195 to $135. Bernstein analyst Mark Shmulik maintained an Outperform rating on the stock.
- Oppenheimer cut Meta Platforms price target from $190 to $140. Oppenheimer analyst Jason Helfstein maintained the stock with an Outperform rating.
- JMP Securities lowered price target on Meta Platforms from $215 to $150. JMP Securities analyst Andrew Boone maintained the stock with a Market Outperform.
- Citigroup cut price target on Meta Platforms from $222 to $168. Citigroup analyst Ronald Josey maintained a Buy rating on the stock.
- Rosenblatt cut price target on Meta Platforms from $154 to $114. Rosenblatt analyst Barton Crockett maintained the stock with a Neutral.
- Raymond James cut Meta Platforms price target from $215 to $171. Raymond James analyst Aaron Kessler maintained the stock with an Outperform.
- Guggenheim cut Meta Platforms price target from $180 to $125. Guggenheim analyst Michael Morris maintained the stock with a Buy.
- UBS cut Meta Platforms price target from $157 to $121. UBS analyst Lloyd Walmsley maintained the stock with a Buy.
- B of A Securities cut Meta Platforms price target from $150 to $136. B of A Securities analyst Justin Post maintained the stock with a Neutral.
- JP Morgan cut Meta Platforms price target from $180 to $115. JP Morgan analyst Doug Anmuth maintained the stock with a Neutral.
- Truist Securities cut Meta Platforms price target from $240 to $160. Truist Securities analyst Youssef Squali maintained the stock with a Buy.
- Canaccord Genuity cut Meta Platforms price target from $250 to $200. Canaccord Genuity analyst Maria Ripps maintained the stock with a Buy.
- Deutsche Bank cut Meta Platforms price target from $170 to $125. Deutsche Bank analyst Benjamin Black maintained the stock with a Buy.
- Stifel cut Meta Platforms price target from $ $230 to $185. Stifel analyst Mark Kelley maintained the stock with a Buy.
- MKM Partners cut Meta Platforms price target from $195 to $140. MKM Partners analyst Rohit Kulkarni maintained the stock with a Buy.
- Goldman Sachs cut Meta Platforms price target from $200 to $165. Goldman Sachs analyst Eric Sheridan maintained the stock with a Buy.
