- Citi analyst Ronald Josey reiterated a Buy on Meta Platforms Inc (NASDAQ:META) and a price target of $222.
- Based on his proprietary tracking of ads on IG Reels, he believes monetization is ramping as his data suggests ad loads reached 14% in September compared to 8% in July. An initial ad exposure is now earlier in the experience.
- He recognizes it remains early days in Reels monetization and the challenges in engagement given the competition in Short-Form-Video.
- Still, he also believes Reels could have naturally higher and largely incremental ad loads over time, and integration of Reels content within Feed, Stories and Messenger complements Meta’s evolving MSI.
- Also Read: Move Over Facebook, TikTok, Snapchat — This New Social App Is All The Rage Among Stanford Undergrads
- He was encouraged by Meta’s newer ad formats announced earlier this week that he believes represent the beginnings of its rebuilt AI-based ad tech stack.
- While macro challenges persist, he believes improved Reels monetization, newer ad formats, and a greater focus on expenses create a compelling risk-reward in shares.
- Price Action: META shares traded lower by 3.65% at $134.00 on the last check Friday.
Flotek Industries Q3 EPS $(0.25) Misses $(0.06) Estimate, Sales $45.62M Beat $44.50M Estimate
Flotek Industries (NYSE:FTK) reported quarterly losses of $(0.25) per share which missed the analyst consensus estimate of $(0.06) by 316.67 percent. This is a 2600 percent decrease over earnings of $0.01 per share from
