FINWIRES · TerminalLIVE
FINWIRES

Update: Wedbush Adjusts Price Target on Meta Platforms to $650 From $595, Keeps Neutral Rating

By

(Updated to include Wedbush commentary)

Wedbush raised its price target on Meta Platforms (META) to $650 from $595 following the company's release of its AI agent Muse earlier this week.

According to the brokerage, the consumer AI agent is a key step forward on AI product execution, but establishing product-market fit will take time, as this is a brand-new-to-world product that requires educating consumers on what an agent can do for them.

The brokerage estimates Muse subscriptions can be around $5 billion in 2027, representing roughly 1.5% of its total revenue estimate. For Business AI, its base case 2027 revenue estimate stands at around $1B.

Meta Platforms has an average rating of buy and mean price target of $748.72, according to analysts polled by FactSet.

Price: $652.20, Change: $+7.82, Percent Change: +1.21%

What else is happening in Wire?

Wire

National Beverage Fiscal Q1 Earnings Fall, Revenue Rises

National Beverage (FIZZ) reported fiscal Q1 earnings late Thursday of $0.50 per diluted share, down from $0.60 a year earlier.One analyst polled by FactSet expected $0.59.Revenue in the three months ended Aug. 1 rose to $330.7 million from $330.5 million a year earlier.One analyst projected $342.1 million.National Beverage shares fell 3% in after-hours trading.

$FIZZ
Wire

Zumiez Q2 Loss Widens, Revenue Falls; Sets Q3 Guidance

Zumiez (ZUMZ) reported Thursday Q2 loss of $0.17 per diluted share, compared with loss of $0.06 a year earlier.Two analysts surveyed by FactSet expected a loss of $0.14.Revenue for the quarter ended Aug. 1 was $209.0 million, down from $214.3 million a year ago.Two analysts expected $212.1 million.The company expects Q3 EPS of $0.00 to $0.10 on revenue of $222 million to $226 million. Two analysts expect EPS of $0.59, if comparable, and revenue of $238 million.Shares of the company fell over 15% in after-hours trading.

$ZUMZ
Wire

Box, OpenAI Launch Integration to Access Enterprise Content in ChatGPT

Box (BOX) entered a collaboration with OpenAI to launch an integration that lets users access and work with business content stored in its platform directly from ChatGPT.The integration can help accelerate clinical research, streamline legal workflows, and support financial analysts reviewing company reports, Box said Thursday in a statement.The feature is available starting Thursday for Box customers, with OpenAI rolling out access to users of ChatGPT's paid tiers over the coming days.Price: $34.10, Change: $-0.39, Percent Change: -1.13%

$BOX