Facebook remains most commonly used platform for SMB advertisers - Morgan Stanley

Morgan Stanley analyst Brian Nowak reiterated an Overweight rating and $550.00 price target on Meta Platforms Inc. (NASDAQ: META).

The analyst said: "Facebook remains most commonly used platform at 75% adoption while TikTok adoption is also rising. Search and Snap trends more tempered. FB Messenger, Reels, TikTok and Amazon stand out on forward intent to spend while SNAP also screens well on this measure. Advantage Plus and PMax seeing rising adoption while delivering an average 7% ROAS lift across both products Nearly all advertisers say they have utilized at least some of the Generative AI tools provided within GOOGL and META's suite of Ad Campaign tools Overall CTV adoption stable as GOOGL and AMZN extend lead over peers."

For an analyst ratings summary and ratings history on Meta Platforms Inc. click here. For more ratings news on Meta Platforms Inc. click here.

Shares of Meta Platforms Inc. closed at $495.57 yesterday.

You May Also Be Interested In

• Active options: META MSTR MSFT SOFI ACHR PLTR GME SQ RIVN GOOGL AMC TSM
• RBC Capital Upgrades AngloGold Ashanti (AU) to Outperform
• BofA Securities Upgrades Ferrovial SA (FER:SM) (FRRVF) to Buy