Million

Trillion

<ul class="list-ic vertical">
 <li><span>1</span> <a>The COO of Meta Stages sold shares of more than $3.5 Million in the market.</a></li>
 <li><span>2</span> <a>Analysts are bullish on Meta for its upcoming earnings report at the start of this February.</a></li>
</ul>
<p>Meta Stages, the web-based entertainment giant founded by Mark Zuckerberg, saw its stock exchange over a $1 trillion market gain by Wednesday, according to data from MarketSmith. This comes after the company’s shares fully recovered past a previous high in late 2021, closing down at 384.36.&nbsp;</p>
<p>However, previous stock buybacks from Meta had kept the total market cap for the stock below the 2021 high north of $1 Trillion. Although Meta shares briefly exceeded a $1 Trillion market cap in early trading on Monday, the gains were given up later in the day.</p>
<h2 class="wp-block-heading" id="strong-the-coo-of-meta-drops-3-5m-worth-of-shares-strong"><strong>The COO of Meta Drops $3.5M Worth of Shares</strong></h2>
<p>The COO of Meta Stages sold 9,000 shares for $3.5 Million on Wednesday under a trading plan adopted in August 2023. The company’s stock surged almost 180% last year and has climbed over 13.5% in 2024. Shares of Meta Stages rose 1.9% in evening trading on Wednesday, putting its valuation at $1.01 Trillion. Earlier in the day, Microsoft breached the $3 Trillion valuation.</p>
<p><a href="https://www.thecoinrepublic.com/2024/01/24/vitruveo-surpassed-1-million-nft-sales-and-witnessed-a-successful-fundraising/" target="_blank" rel="noopener noreferrer nofollow">Meta Stages</a> is considered a prominent name in the growing artificial intelligence (AI) wave, and last week, the CEO announced plans to purchase 350,000 H100 graphics cards from Nvidia by year-end to boost its AI initiatives.</p>
<p>Meta Stages is set to report its fourth-quarter earnings on February 1, and the results of which will likely be a significant test of whether traders will support or oppose the company’s new valuation.</p>
<h3 class="wp-block-heading" id="strong-street-estimates-of-meta-s-earning-report-on-upcoming-february-strong"><strong>Street Estimates of META’s Earning Report on Upcoming February</strong></h3>
<p>Analysts have been bullish on meta-stages lately. Citi analyst Ronald Josey reiterated his Buy rating and raised his target price to $440 from $425 on Tuesday.&nbsp;</p>
<p>In a note, he said, “Meta remains our top pick across the Web sector for 2024 as engagement continues to grow and the company benefits from a long-term product roadmap across Social, GenAI, and Ads innovations as margins expand.”</p>
<p>Mizuho also maintains a Buy rating on Meta and recently said WhatsApp could gradually expand the company’s revenue base by a third over the long run using artificial intelligence to automate customer support.</p>
<p>Meta’s shares have surged over 170% in the past year and are up over 10% YTD. Analysts expect the company to earn $4.94/share and generate $39.04 Billioni in revenue when it releases its Q4 results on February 1.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Meta Stages, founded by Mark Zuckerberg, gained $1 Trillion in market value. The COO sold 9,000 shares for $3.5 Million. Analysts are bullish on Meta, with Citi raising its target price to $440 and Mizuho maintaining a Buy rating. WhatsApp could increase Meta’s revenue using AI to automate customer support.</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.</p>

META Crossed $1T Valuation, COO Dumps $3.5M Worth of Shares

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Thecoinrepublic.com

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