What the analyst said
Evercore ISI analyst Mark Mahaney lowered the price target on Meta Platforms Inc.
(NASDAQ: META) to $875 (from $930) while maintaining an Outperform rating.
“Our View: We’ll maintain our Outperform rating on META, tho we are lowering our bottom-line estimates and our PT from $930 to $875 (25%+ upside) in the wake of Beat & Bracket Q3 EPS results.
META announced a significant increase in its investment spend plans for ‘26 (both Capex and TotEx) as the company seeks to be the “AI Leader” – this is what took shares down 7% in the aftermarket.
Q3 revenue ($51B, up 25% Y/Y ex-FX) was solidly (3%) ahead of ISI/Street due to a reasonably robust advertising market and AI innovations.
Operating Income ($20.5B, 40% Margin) was 2%/6% ahead of ISI/Street. Q4 Revenue guide bracketed the Street, while the company tightened up its FY25 Capex and Totex guides.
Fundamentals were mixed — 3 pts of revenue growth accel vs. Q2 but Op Margin down almost 300 bps Y/Y. The keys: 1.
Strongest Ad Revenue Growth Platform On The Planet? – The 25% Y/Y ex-FX Ad Revenue growth may well be the fastest in the sector this quarter, and it’s coming on a massive $200B ad revenue run rate.
That’s very impressive. 2.
More And More Evidence Of ROAI – Andromeda (Meta’s AI-driven ads retrieval and ranking model) drove a 14% increase in ads quality on Facebook, and the Lattice (Meta’s unified ads/recommendation model) rollout to app ads drove a 3% improvement to conversions.
3.
Zuck Is Making A Big Bet On AGI – ’26 Capex dollar growth will be “notably larger” than in ’25 – we’re now modeling $112B in ’26 Capex – and ’26 TotEx growth will be “significantly faster” than in ’25 – we’re now modeling $149B in ’26 TotEx.
Meta thinks this will position it to be the AI Leader. Brings our estimates down, tho we still see MSD% Operating Income growth in ’26.”
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Where the price stands
META trades at $611. The 33 analysts who set a target in the last 3 months range from $650 to $1,000, with a median of $860. This $875 target is 2% above the median.
Since the note META has moved −19% (from $752). The 12-month window closed on October 30, 2026.
Track record
Firm track recordEvercore: 92% of its 12 targets at least a year old were reached within 12 months. Accuracy ranking →
Evercore on Meta
Evercore price targets on Meta
8 calls from October 30, 2025 to September 10, 2026. The target went from $875 to $860 (−2%). The rating stayed Buy.
- September 10, 2026Kept the $860 targetBuy$860
- August 26, 2026Target raised from $820 (+5%)Buy$860
- July 30, 2026Target cut from $930 (−12%)Buy$820
- July 29, 2026Kept the $930 targetBuy$930
- June 17, 2026Kept the $930 targetBuy$930
- April 30, 2026Target raised from $900 (+3%)Buy$930
- January 29, 2026Target raised from $875 (+3%)Buy$900
- October 30, 2025 This noteEarliest call shownBuy$875
Other analysts on Meta
Wells FargoBuy
Kept rating and price target · Oct 27
$995maintained
Citizens JMPBuy
Kept rating and price target · Oct 27
$885maintained
MizuhoBuy
Kept rating and price target · Oct 26
$950maintained
Canaccord GenuityBuy
Kept rating and price target · Oct 26
$950maintained
William BlairBuy
Kept rating · Oct 26