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Pivotal Research raises the target price of Meta Platforms from $930 to $960
Businessinsider
1h ago
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Pivotal Research has raised the target price of Meta Platforms from $930 to $960 and maintained a buy rating for the stock. The institution stated that Meta's third-quarter revenue exceeded expectations, driven by a 10% increase in ad impressions and a 14% rise in average pricing; the company also announced the issuance of Class C shares without voting rights, with existing shareholders set to receive these shares in January 2027.
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Pivotal Research has raised the target price of Meta Platforms ( META ) from $930 to $960 and maintained a "buy" rating for the stock.

In the research report sent to investors, this analyst stated that Meta reported strong third-quarter revenue performance, which exceeded expectations, mainly driven by a 10% increase in ad impressions and a 14% rise in average pricing.

The institution added that the company also announced the establishment of Class C shares without voting rights, and existing shareholders will receive these shares in January 2027. The company plans to use these shares for potential transactions, capital raising, and employee compensation, which is likely to dispel market speculation that Meta will announce equity transactions in the short term.

This article was originally published on TheFly.

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