Investment firm Barclays cut Target Prices on Digital Ad stocks like Google, Facebook, Snap and Pinterest
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Revised Target Prices by Barclays
- Target price cuts: Alphabet (Google) to $3,000 from $3,200; Meta (Facebook) to $280 from $370; Pinterest to $20 from $24; and Snap slashed to $20 from $42.
- Barclays has cut target prices as there was likely a "step-down" in spend and conversion in the entire internet ecosystem.
Why Price Cuts?
- Alphabet (Google), Facebook (Meta), Pinterest and Snap all received price cuts from Barclays.
- The investment firm noted a "perfect storm" in digital advertising is here, amid increased competition from TikTok and Apple and structural headwinds for the industry.
- Barclays believes that the growth is only expected to grow 3% on-year across the industry.
What are the recent target prices on Digital ad stocks by Barclays?
Target price cuts: Alphabet (Google) to $3,000 from $3,200; Meta (Facebook) to $280 from $370; Pinterest to $20 from $24; and Snap slashed to $20 from $42.
Why did Barclays cut target prices on digital ad stocks?
The investment firm noted a "perfect storm" in digital advertising is here, amid increased competition from TikTok and Apple and structural headwinds for the industry.
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