Meta (Facebook)is one of the great American technology companies and belongs to the FAANG. From IPO ten years agospecifically on May 18, has continued the uptrend. However, could this pristine decade come to an end in the current economic and political situation?
Facebook has revalued 400% since its launch on the market ten years ago.
Your social network has become an important element in society and this has also been one of the factors that boosted the value to grow in the market.
The firm led by Mark Zuckerberg is one of the more ambitious and with great projection after their commitment to the metaverse, leaving behind its only reference to social networks that has brought so many headaches in recent years regarding the use and manipulation of users’ personal data.
credibility issues
Despite its spectacular growth on the stock market, Facebook has been involved in several problems that directly affected their credibility. The manipulation of information has brought its founder several times before the United States Congress y several demands in the old continent.
Without forgetting that it has been pointed out by those who fight against monopolies before the latest acquisitions of Whatsapp e Instagram.
Even the name change to Meta is a way to remove that stigma and his new aspirations to lead the metaverse.
2022, the end of its upward climb?
The financial uncertainty and volatility present in these first five months of the year have not helped Facebook to maintain the trend that had prevailed ten years ago, although with some inherent ups and downs along the way.
The signature is has left so far this year 43%, starting the year with 338 dollars and losing 146 dollars. even the Nasdaq has dropped 28%, less than the aforementioned company.
It should be noted that many American firms have reflected losses so far this year and Facebook would not be the exception in this economic and political context.
Despite this context, the company could continue to grow despite declines and investors believe it can still be profitable.
JMP Securities overweight the stock and locate the target price at $265. Wolfe Research joins the same recommendationbut in your case set the target value at $250. Morningstar recommends buying stocks and mark the target price at $384. For its part, MKM Partners recommends buying shares from Meta, and install the target price at $295.
Analysts expect the firm from a downtrend turn this yearalthough they point out that this has become their worst year on the stock market.
Facebook It closed on the penultimate Monday of May in the red at $182.49, with the 70-period moving average below the last candles and below the 200-period moving average. Which would give us a bearish signal.
According to Ei’s analysis, long-term support is at $169 and long-term resistance at $352.69. The latter is well above most of the target prices of the big managers.
Meanwhile, the indicators are bearish.
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