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Meta stock is on an upward trend.
Meta Platforms, the parent company of Facebook, Instagram and other social media sites, saw its shares rise by more than 4% on Thursday morning. The shares are still off their 2025 highs, however they have jumped out from the hole that they had fallen into in April.
Investors are driving the stock higher due to last night’s quarterly financial results, and executive commentary that accompanied them. They interpret this as a sign of strength for the tech industry. Earnings and revenues were higher than Wall Street had expected. The company also boasted about the growing use of AI and reaffirmed its large capital spending plans.
Wall Street analysts had already been bullish about Meta stock prior to the results and many became even more so following them. Bank of America raised its target to $690 while JPMorgan increased its to $675. The Visible Alpha Average is around $689 in today’s dollars.
“We know that it’s not easy to execute so effectively.” [and] JPMorgan wrote: “deliver strong growth from a large base.” “But we are confident that Meta is aware of the fact that strong execution will lead to strong growth,” JPMorgan wrote. [and] AI transparency, the Street will have a greater leash on AI investments.”
Canaccord Genuity’s Maria Ripps maintained a $825 price target on Thursday, which is significantly higher than any other currently monitored by Visible Alpha. This would represent a new record high. The stock closed Wednesday at $549.
“While we do see potential macro and regulatory challenges, with shares well below recent highs and an extended runway ahead of AI-driven improvements for key business functions, Ripps continues to view the stock a core holding among tech investors,” Ripps writes.
