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Meta Platforms Inc (NASDAQ:META) is reportedly developing a new feature for its social media app Threads that could allow posts and their replies to disappear after 24 hours.
This development, which echoes the ephemeral nature of stories on other platforms, could make Threads more appealing to users concerned about the permanence of their online content, TechCrunch reports.
Technologist and reverse engineer Chris Messina uncovered the feature, which states that these disappearing posts will be exclusive to Threads.
Also Read: Meta’s Policy Shift Takes A Toll On Instagram Engagement: Report
However, since Threads has integrated with the diverse, other posts can still reach a broader audience through this network.
If the feature is rolled out, it could differentiate Threads from competitors like X (formerly Twitter), which no longer offers an ephemeral content option after retiring its Fleets feature.
In November 2020, WhatsApp launched disappearing messages on Android to make conversations feel more like in-person interactions by ensuring that messages do not stick around permanently. WhatsApp launched the feature in Apple Inc’s (NASDAQ:AAPL) iPhones in 2021.
When trying to assess whether or not Meta Platforms will trade higher from current levels, it's a good idea to take a look at analyst forecasts.
Wall Street analysts have an average 12-month price target of $575.94 on Meta Platforms. The Street high target is currently at $647.0 and the Street low target is $450.0. Of all the analysts covering Meta Platforms, 34 have positive ratings, one has neutral ratings and no one has negative ratings.
In the last month, 33 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Meta Platforms have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Meta Platforms is 52.63% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Meta Platforms, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.
Price Action: META shares traded lower by 0.17% at $527.62 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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