Goldman Sachs Raises Meta Price Target to $835

Goldman Sachs analyst Eric Sheridan raised the price target on Meta (NASDAQ: META) to $835.00 (from $815.00) while maintaining a Buy rating.

“META’s Q4’25 earnings report was, in our view, marked by two primary themes (with management framing several key narratives across both): 1) its core advertising business (user growth/engagement + monetization) continues to build in momentum (with total revenues in both Q4 & Q1 guidance surprising to the upside) and show a marked acceleration as the business begins to demonstrate the scaling effects of AI on content recommendation and the shifts underway in the ad industry from AI at scale; & 2) a continued upward slope to forward investments (GS now ~$166bn of total GAAP expenses and ~$132bn of total capex in FY26) with management commentary centered around optimizing for internal costs as AI continues to scale but little visibility or framing by management of 2027 & beyond investments (with the exception of a more measured tone around Reality Labs reaching peak losses).

Against broader investor fears of an opex/capex guide which might have exceeded even last night’s forecasts, we see the implied forward revenue guide (when triangulating around minimum FY26 topline growth to achieve management’s expectation for EBIT $ growth) as indicating the company’s ability to compound revenues at a higher rate for longer than we had forecasted – this results in us raising our 2026 revenue forecast for the second time in the last month (link to preview) to now be ~$251bn (+25% YoY reported, or +21% excl FX).”

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