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Josey - 3 Ronald Josey - 2 Morgan Stanley's Brian Nowak - 2 Nowak - 2 — CNBC's Michael Bloom - 2 of America's Justin Post - 1 Post - 1 Bard - 1
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☆ Here's the trade on Meta ahead of earnings, according to top analysts
  + stars: | 2023-07-26 | by ( Brian Evans | ) www.cnbc.com   time to read: +2 min
The forthcoming quarterly results from Meta Platforms on Wednesday have analysts chomping at the bit. Ahead of Meta's second-quarter results on Wednesday after the closing bell, here's how some analysts on Wall Street are trading the social media behemoth. Citi analyst Ronald Josey reiterated a buy rating on Meta stock on Tuesday, accompanied by a $360 per share price target. META YTD mountain Meta stock has surged nearly 150% from the start of the year. Bank of America's Justin Post reiterated his buy rating on Meta stock in a July 17 note with a $350 per share price target, similarly to Nowak.
Persons: Ronald Josey, Josey, Morgan Stanley's Brian Nowak, Nowak, of America's Justin Post, Post, — CNBC's Michael Bloom Organizations: Meta, Facebook, JPMorgan, FactSet, Citi, Microsoft, of America's
☆ Wall Street analysts cheer Alphabet earnings, see more gains ahead for tech giant
  + stars: | 2023-07-26 | by ( Brian Evans | ) www.cnbc.com   time to read: +3 min
Google-parent Alphabet posted strong second-quarter numbers that had many Wall Street analysts gushing. Goldman Sachs analyst Eric Sheridan reaffirmed a buy rating on Alphabet stock, with his $152 price target implying more than 24% upside. Citi's Ronald Josey maintained a buy rating on with a higher $153 price target, which amounts to more than 25% upside for Alphabet stock. "As revenue growth reaccelerates on an improving online advertising environment and management's greater focus on operating efficiencies, we look for margins to expand going forward as revenue growth consistently outpaces opex growth," Josey said. Wells Fargo analyst Ken Gawrelski reiterated an equal weight rating on Alphabet stock on Wednesday, although with an increased $121 per share price target.
Persons: Morgan Stanley's Brian Nowak, Nowak, Bard, OpenAI, Goldman Sachs, Eric Sheridan, Sheridan, Bank of America's Justin Post, Citi's Ronald Josey, Josey, Wells, Ken Gawrelski, Michael Bloom Organizations: Google, Refinitiv, GOOGL, Microsoft, Bank of America's, Citi, Google Cloud Services, DOJ
☆ Citi raises Meta price target to highest on Wall Street, cites strong Reels ads
  + stars: | 2023-06-27 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
Citi thinks the online advertising market is set for a strong rebound, and that's already evident within Meta Platforms . The bank raised its price target on Meta to $360 per share, the highest on Wall Street, from $315. On top of that, Meta has moved to reduce costs, with CEO Mark Zuckerberg calling 2023 the "year of efficiency." META YTD mountain META in 2023 But analyst Ronald Josey said Meta's Reels product is driving Citi's bullish sentiment. He noted that ad loads on Reels reached 17% quarter to date — and 18% in June alone.
Persons: Meta, Mark Zuckerberg, Ronald Josey, Josey, underpins, — CNBC's Michael Bloom Organizations: Citi, Meta, Agents, Cannes, Lions Locations: Meta, Monday's
☆ Analysts see even more gains ahead for Meta Platforms after latest earnings report
  + stars: | 2023-04-27 | by ( Brian Evans | ) www.cnbc.com   time to read: +4 min
Analysts liked what they saw from Meta Platform 's latest earnings report. The company projects revenue between $29.5 billion and $32 billion, while analysts expected sales of $29.5 billion, per Refinitiv. Goldman's Eric Sheridan also hiked his price target to $300, noting Meta maintained its momentum from the fourth quarter of 2022. Meanwhile, Bank of America's Justin Post noted that Meta's revenue recovery can drive the next leg higher for the stock. He also hiked his price target on Meta shares to $305 from $270, implying upside of 45.6%.
☆ Microsoft may have won the A.I. battle, but Alphabet could win the war, analysts say
  + stars: | 2023-02-09 | by ( Samantha Subin | ) www.cnbc.com   time to read: +3 min
Microsoft won the first round in the battle to become the next big artificial intelligence leader, but analysts think Alphabet 's ability to overtake its competition in the long-run shouldn't be underestimated. "We think Google's big reveal is still to come, which we would expect in weeks and not months." On the heels of its multibillion dollar investment in ChatGPT-creator OpenAI, Microsoft on Tuesday announced new AI versions of its Bing search engine and Edge browser. "We believe GOOGL has the AI tech and scale to maintain/grow its leading user base," wrote Morgan Stanley's Brian Nowak. He also expects Google's AI product visibility to improve over the next few months — and easily offset some higher AI search costs.
☆ Landing the NFL Sunday Ticket could boost Alphabet subscription offerings, Citi says
  + stars: | 2022-12-23 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
Landing the NFL's Sunday Ticket could help YouTube-parent Alphabet accelerate its subscription services, according to Citi. "[We] believe the Sunday Ticket could accelerate adoption of more subscription services," Josey added. The price target implies shares could surge 36% from Thursday's closing price. The Sunday Ticket package will be available to viewers as an add-on service on YouTube TV, or on YouTube Primetime Channels as a stand-alone a la carte option. In July, Google said YouTube TV has more than 5 million customers, which included trial subscriptions.
☆ Citi says Carvana could perform well in 'more normalized' environment, but near-term headwinds remain
  + stars: | 2022-12-13 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Carvana could stand to regain some of its lost share value despite current headwinds and bankruptcy fears, according to Citi. He set a price target of $5.50, which reflects a 11.1% upside over Monday's closing price. Josey said Carvana currently accounts for just over 1% of used car sales, but the company would be positioned to generate share gains in a typical used car market. But in the near-term, he said "the combination of higher interest rates, declining used vehicle prices (after rising significantly from 2020 – present), limited new vehicle supply, and a weaker economic backdrop have created a challenging operating environment." Going forward, Josey said he will be watching the used car retailer's relationship with Ally, which is its primary funding partner, and Adesa, a used car auction it acquired.
☆ Wall Street analysts see short-term pressure for Alphabet following earnings miss
  + stars: | 2022-10-26 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +4 min
Revenue also came in short at $69.09 billion where Wall Street analysts anticipated $70.58 billion. Those weaker-than-expected results were driven by a slowdown in ad spending and a slip in revenue at YouTube, areas where analysts expected growth. Citi analyst Ronald Josey cut his price target on the company to $120 from $140 to reflect slower revenue growth and margin pressures. A leaner Alphabet Alphabet announced that it would slow hiring in the coming quarter in a move to increase efficiency. "We believe advertising, content and product sales are converging, and GOOGL appears to be ahead of this trend, which is promising."
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