Evercore ISI Reiterates Outperform on Meta, $930 PT

Evercore ISI analyst Mark Mahaney reiterated an Outperform rating and $930.00 price target on Meta Platforms Inc. (NASDAQ: META).

“We reiterate our Outperform rating and $930 PT on the heels of Meta rolling out consumer and business paid subscription plans for its Family of Apps as well as a new suite of Meta One (AI) subscription offerings.

We view the launch of these subscription plans as a revenue diversification play with the potential to modestly impact revenue and more meaningfully impact operating income over time.

Specifically, META is rolling out consumer app-level Plus subscriptions across Facebook, Instagram, and WhatsApp, consumer Meta One AI tiers that bundle app-level perks with expanded Meta AI usage, and business/creator-oriented Meta One tiers that add verification, discovery, links, insights, support, and workflow tools.

While we do not expect these offerings to materially alter near-term revenue growth given phased availability and likely low initial conversion, we believe even modest penetration against Meta’s multi billion-user ecosystem (3.6B+ daily users) could create a meaningful high-margin revenue stream over time.”