![]() ![]() KeyBanc is expecting that Meta's (META) current business transformation could yield consistent double-digit revenue growth with a leaner cost structure. See also:Twitter CEO responds to Meta Threads: 'We're often imitated - but the Twitter community can never be duplicated' "The real story, in our view, is that the core ad platform remains very healthy." "We expect Threads will receive a disproportionate amount of attention over the coming weeks," said the note. audience or can reach 50% of Facebook's U.S. KeyBanc expects the new platform could boost 2024 revenue by $800 million, to $6.7 billion, or 1% to 5% over its previous estimates, if Meta attracts an audience at least one-third the size of Twitter's current U.S. Still, Threads' early performance is nothing to be sniffed at, the analyst conceded. Bigger picture, Meta's core ad products are ramping (estimated 6- to 7-point acceleration in second-quarter pricing), which gives us confidence to raise our 20 estimates for to $12.81 and $16.77, respectively," he wrote in a note to clients. "We believe this will be an immaterial contributor near term as Meta likely focuses on adoption over monetization. It took Twitter, by comparison, 780 days to reach 10 million users, according to Forbesīut that's not the reason for the price hike, said Patterson. ![]() and international adoption over time, said KeyBanc.īy midday Thursday, Threads had garnered 30 million sign-ups, Meta Chief Executive Mark Zuckerberg said in a posting on - where else - Threads. That could mean several billions of dollars for Meta (META) in ad revenue in a more bullish scenario of significant U.S. The app resembles and is directly competing with Twitter at a time when that platform is struggling. Meta Platforms Inc.'s stock was reiterated at the equivalent of buy by KeyBanc analysts on Thursday, as they raised their stock-price target on the Facebook parent to $335 from $280.Īnalysts led by Justin Patterson said the company's new social-media platform Threads, which was launched early Wednesday night, "appears to address many of Twitter's challenges." It took Twitter more than two years to get to 10 million Threads has drawn 30 million users since Wednesday. ![]()
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