Meta Is the Hottest Tech Stock in the Market Right Now
- The Facebook owner’s shares have surged 140% since November
- At least 25 analysts have raised their targets since mid-March
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A leaner Meta Platforms Inc. is impressing Wall Street, with analysts turning more bullish as cost cuts coupled with stabilizing advertising trends make the Facebook owner’s stock look more durable in a looming economic slowdown.
The shares have surged 140% from a seven-year low in November as Meta started cutting thousands of jobs in light of falling sales. The company announced further layoffs last month and pledged to be more efficient, adding kindling to the rally.