ValueAct has taken a $1 billion position in Meta Platforms, aiming to enhance profitability by trimming inefficiencies, particularly in the Reality Labs (RL) division, which currently detracts from earnings. With a projected EPS of $30 by 2026, the core Family of Apps (FoA) segment is expected to drive significant value, while AI investments could bolster growth. Despite Meta's controlled structure under Mark Zuckerberg, ValueAct's expertise in corporate governance positions it well to influence positive change.
Starboard Value's Jeff Smith believes Salesforce has significant potential for increased profitability, following a 98% share price surge in 2023 after the company improved its adjusted operating margin. Starboard, which holds a $432 million stake, argues Salesforce can enhance efficiency and aims to adhere to the rule of 50 by fiscal 2028. The firm highlighted that Salesforce's spending on sales and marketing could be optimized compared to peers like Adobe and Microsoft.
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