Meta Platforms, Inc. (NASDAQ:META) is one of the AI Stocks Making Waves on Wall Street. On July 23, Benchmark analyst Mark Zgutowicz raised the firm’s price target on the stock to $800 from $640 and kept a “Buy” rating on the shares.
Discussing the Q2 results and guidance due on July 30, the firm said that it anticipates “stable top-line” results on the back of steady ecommerce trends and sustained US and Canada ad pricing leverage. The firm said that Meta has witnessed acceleration in these markets for the past two consecutive quarters, and believes that revenue per advertiser will increase from Advantage+ attribution enhancements implemented in May.
The analysts further stated that Zuckerberg’s recent pledge of “hundreds of billions of dollars” in AI infrastructure, coupled with its AI research hire,s will “certainly be topical on its 2Q earnings call.”
As such, it anticipates the company’s 2025 capex guidance to be maintained while opex guidance to be “tightened a bit higher.”
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Disclosure: None.
