Meta platforms (NASDAQ:META) shares have been flat on Friday amid new assessments of Fb’s father or mother firm’s plans for its synthetic intelligence know-how plans.
Ivan Feinseth, an analyst at Tigress Monetary Companions, mentioned in a analysis report than Meta (META) rising person numbers and rising funding in AI are anticipated to drive person engagement within the coming years. That is partly defined by Meta (META) its measurement and presence within the social media market, which Feinseth says will assist the corporate “outperform” its friends in social media and internet marketing.
“Meta’s most respected asset is its huge and ever-growing person base,” Feinseth mentioned. “And will probably be capable of monetize its continued app household enlargement and future product introductions.”
Moreover, Feinseth mentioned Meta (META) ought to be capable to “combine this content material with messages from customers’ households and pals, which fits past the outcomes generated by AI alone”.
Feinseth mentioned it was additionally in Meta (META) is that it’s “creating a flywheel between discovery and messaging that may make its present functions much more strong.”
Feinseth, which has a robust purchase ranking on Meta’s (META) shares, raised its worth goal on the corporate’s inventory to $285 per share from $260.
Meta (META) shares nonetheless have some method to go to satisfy Feinseth’s goal, however have had a strong 12 months to date and have elevated by greater than 46% because the finish of 2022.