Analysts at Oppenheimer cut their estimates and lowered their price target on Meta Platforms, Inc. (NASDAQ:FB) to $305 from $375, while reiterating their Outperform rating.

This move reflects impacts from Russia (no longer accepting ads from Russian advertisers, which represented 1.5% of 2021 ad revenue), and a weaker European economy.

The analysts lowered their Q1 revenue estimate 4% to the low end of guidance, with core EBITDA 6% lower. 2022/2023 revenues were decreased by 9% each and core EBITDA by 13%/10%.