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Slowly but surely, Meta Platforms (NASDAQ: META) has been growing its presence and role in the ongoing artificial intelligence (AI) boom. The recent Meta Connect event, in particular, has helped add to the hype surrounding the social media giant’s venture into AI and the expansion of its hardware offering and helped the firm’s already strong stock market performance in September gain additional steam. META stock 30-day price chart. Source: Finbold Wall Street experts appear equally impressed with Meta Platform’s developments, as exemplified both by its strong overall rating and the string of bullish 12-month price target revisions. To be precise, META shares are considered a ‘strong buy’ with as many as 59 of the 69 experts on the stock analysis platform TradingVIew recommending buying the stock. Another eight are ‘neutral,’ and two believe selling META is the right call, per the data retrieved by Finbold on October 3. The optimism is also reflected in the spread of 12-month price targets. Overall, META stock is expected to climb 2.38% from its press time price of $573.42 and reach $588.61 sometime in the coming 52 weeks. The highest forecast – assigned by Rosenblatt Securities on September 26 – would see the social media company rise even higher and hit $811, demonstrating the enthusiasm surrounding Meta shares. META stock analyst consensus. Source: TradingView Finally, early October rating revisions have mostly remained favorable to Meta Platforms.  Pivotal Research, for example, highlighted the company’s strong revenue growth outlook, driven both by the introduction of new and expansion of old products and services but also the cost-cutting potential of AI. Such bullish analysis was, as is to be expected, accompanied by a ‘buy’ rating and a high $780 price target. Wells Fargo (NYSE: WFC) likewise emphasized META’s increased prominence among AI stocks when it reiterated the…

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Filed under: News - @ October 3, 2024 5:22 pm