On August 1, Meta Platforms, Inc. rose 3.26% in regular trading, trading at approximately $557.24/share, with turnover of $11.514 billion.
On the news front, despite Q2 EPS of $6.18 missing expectations of $7.13 and free cash flow plunging 91% to $784 million, the stock rebounded after an 11-session losing streak that had erased over 20% of its value. Multiple investment banks maintained buy ratings, providing a confidence boost. UBS highlighted that Business AI agents reached 1 million accounts within one month of launch, with monetization set to begin in H2, potentially becoming a new revenue stream. Deutsche Bank maintained its buy rating with a $750 target, while BofA set its target at $810. CMBI also maintained a buy rating, citing bullish C-end and enterprise AI commercialization opportunities. Additionally, Microsoft's strong cloud performance lifted overall AI sector sentiment, providing further support for Meta's recovery.
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