Evercore ISI Mark Mahaney, head of internet research at Evercore ISI, said the share price drop wasn't because the company missed revenue numbers or reported poor metrics, but because of the scale of investment in its yet-to-be-proven metaverse technology."[Meta and Alphabet] stocks have more valuation support vs. history, and while revenue estimate cuts for advertising stocks are very likely in a recession scenario, we would anticipate accelerating cost-cutting activity in 2023 to result in smaller [earnings per share] cuts vs. peers," the analysts said on Dec. 15 in a note to clients."We remain focused on Meta's large scale audience across their Family of Apps, against which the company can continue to align evolving consumption habits within short-form video, messaging, commerce, augmented reality & social connections," Goldman's analysts said, giving the stock a $165 price target.The regulators said Facebook and Instagram would need to obtain the consent of users explicitly, rather than discreetly through their "terms of service.""The decision doesn't directly order Meta to change practices, but rather calls for the Irish regulators to issue public orders that reflect its decisions, along with fines, given that Ireland is where Meta's European headquarters is based," said Deutsche Bank's equity analyst Benjamin Black, who expects Meta shares to rise by another 9.2% to $125 a share."