Cantor Fitzgerald Lowers Meta Price Target to $750

Cantor Fitzgerald analyst Deepak Mathivanan lowered the price target on Meta (NASDAQ: META) to $750.00 (from $850.00) while maintaining an Overweight rating.

“META reported 1Q results with revenues and EBIT above street estimates by 1% and 18%, respectively.

The company’s 2Q revenue guide ($58B-$61B) implies solid 26% ex-FX growth at the high-end (3-pt decel on 2-pt harder comp), despite some macro headwinds in recent months.

META continues to see sustained unlocks in user engagement and ad performance from AI advancements in its core FoA (GEM, ARM, etc.).

On the expense side, META reiterated its FY opex guide, but raised FY26E capex by $10B at the mid-point to reflect component cost inflation and incremental capacity additions – which admittedly is likely to resurface debates on META’s capex ROIC – post 1Q results.

That said, META highlighted a long list of product opportunities enabled by its new Muse Spark model in areas including personal intelligence, shopping, reasoning in RecSys, and enterprise.

Stepping back, META’s core advertising business remains strong, and we continue to believe that META has plenty of levers to capture healthy returns on its capex spend in the core business.

We have lowered our FY27E EBIT by 2% to reflect incremental capex and cloud deals. We reiterate our Overweight rating and our revised PT is $750 (vs. $850 previously).”

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