2024 Facebook (META) Stock Analysis: Buy The Dip! Potential Savings!
Today, Chris Johnson discusses opportunities to buy Meta at a discounted price after its strong earnings announcement. Meta's recent strong earnings report has propelled its stock price 23% higher, but there is a potential opportunity to buy it at a lower price as profit-taking and market pressure may cause a pullback in the stock. The analyst community has also upgraded the target price for Meta to $530, indicating further potential growth. Investors should be patient and consider buying the stock around $420 for a potential return and upside exceeding the $530 target price.
Video Summary:
[00:00]( • 2024 Facebook (META) Stock Analysis: ... ) Meta's earnings exceeded expectations, causing a 23% increase in stock price, but investors should wait for a potential 8-9% pullback before buying.
Meta's earnings were 51 cents better than expected, with a revenue increase of 27%.
The stock price increased by 23% in one day after the earnings announcement.
Waiting for a pullback allows investors to take advantage of profit-taking by those who bought the stock before the increase.
Warren Buffett advises against buying stocks when the crowd is overly enthusiastic.
[02:26]( • 2024 Facebook (META) Stock Analysis: ... ) Metashares stock is expected to rise significantly, with 28 analysts upgrading their target price to $530 and the company announcing a dividend and stock buyback program.
28 analysts have upgraded their target price for Metashares to $530.
The company announced a $0.50 per share dividend, which is the first ever for Meta.
They also announced a $50 billion stock buyback program.
The stock is expected to continue on a bullish trend and reach the target price during 2024.
[04:52]( • 2024 Facebook (META) Stock Analysis: ... ) Chris discusses the pressure on Wall Street, the psychology of trading, and the potential for a dip in Meta stock.
Profit takers are expected to sell and buy the dip.
Chris is targeting a buy price for Meta shares at a 9% discount.
The chart analysis shows Meta trading outside of its normal distribution, indicating a potential pullback.
Chris advises against buying the stock at its peak.
[07:18]( • 2024 Facebook (META) Stock Analysis: ... ) Chris analyzes the technical indicators of a stock and suggests waiting for a pullback before buying.
The stock's volume spiked after the earnings announcement.
The Relative Strength Index (RSI) is above 70, indicating the stock is overbought.
Chris suggests waiting for the stock to cool off and pull back to around $420 before buying.
[09:44]( • 2024 Facebook (META) Stock Analysis: ... ) Chris suggests that $420 is a good price to buy Meta shares, and predicts that the stock could potentially reach $550 or higher in the future.
$420 is seen as a great opportunity to buy the stock, and $400 would be an even better price on a pullback.
Wall Street, traders, and investors are attracted to round numbers, such as $500, which is the next target for the stock.
Chris believes that Meta shares could go as far as or even higher than $550 over the next year.
Meta has undergone a successful turnaround, and the management team has shown that they are on track.
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