Most of Lee’s colleagues are on the same page FB stock has a Strong Buy consensus rating, based on 29 Buys vs. (To watch Lee’s track record, click here) This figure implies ~35% upside potential from current levels. To this end, Lee reiterates a Buy rating on FB shares along with a $450 price target. Additionally, Lee expects “downward revisions to the expense growth guidance” of roughly 30% year-over-year in FY22, citing management’s recent history of issuing an overly conservative outlook. Metaverse aside, following Facebook’s recent travails, Lee thinks the current valuation represents a compelling opportunity for investors, and the analyst counts several catalysts which will help the multiple “expand to the historical average.” These include including FB outperforming peers when faced with Apple’s IDFA and ATT user data initiatives and a pickup for SMBs (small and medium-sized businesses) action triggering an “upward revision” to the FY22 consensus revenue growth estimate of 20%.
However, mass-market adoption could still be a while off devices will need to improve both in form and performance, while the current price point for hardware of $300 will need to drop and become more affordable to widen the appeal beyond game enthusiasts.Ĭreating this new universe won’t be cheap, either Facebook has already devoted $10 billion in FY21 toward the project. Institutional Distribution Intelligence.Non-Traditional Exchanges & New Markets.Directors’ and Officers’ Questionnaires.
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