What the analyst said
Jefferies analyst Brent Thill reiterated a Buy rating and $825 price target on Meta Platforms Inc. (NASDAQ: META).
“Our team bought & tried on 3 different models of Meta’s AI glasses & came away impressed. Camera quality, seamless setup, & a normal-glasses form factor stood out.
While we see areas to improve, META has a first-mover advantage as the only player now shipping at scale.
Assuming Apple-watch-like adoption at an average selling price (ASP) of $400, we size a $14B-$18B hardware rev opportunity within the next few yrs, & see a LT growth vector not yet priced in.
Meta’s AI glasses are screen-light, voice-first wearables w/ an integrated camera & open-ear audio, all tied to the Meta AI app as the central console layer.
They enable hands free, voice-commanded AI assistance across daily tasks. We purchased 3 models: the Ray-Ban Meta Gen2 ($379), the Oakley Meta ($499), & the Ray-Ban Display w/ Neural Band ($799).
We put them to work across sports, communication, & productivity, & came away pleasantly surprised by how naturally they integrate into daily routines.
Our base-case scenario analysis implies a ~$14B-$18B hardware rev opp (~35-45M units at Apple Watch-like adoption), w/ additional upside from higher-value AI subscriptions, advertising, & commerce monetization over time.
We believe the NT impact centers on engagement & MAU expansion: Meta AI MAUs have reached ~1B, daily glasses users are tripling y/y, & 7M+ units sold in ’25 w/ EssilorLuxottica reportedly doubling production capacity to 20M in ’26.
Longer term, the bigger prize is commerce: if agentic AI shifts from browsing to delegation, AI glasses could capture user intent at the point of discovery, moving Meta closer to the transaction.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
Where the price stands
META trades at $623. The 33 analysts who set a target in the last 3 months range from $650 to $1,000, with a median of $860. This $825 target is 4% below the median.
Since the note META has moved −4% (from $646). 12-month window: day 105 of 365, closes on July 21, 2027.
Track record
This callOpen: META has not reached $825 yet. This 12-month target is scored on July 1, 2027. Same target as this firm’s July 1, 2026 note, so it is scored there.
Firm track recordJefferies: 67% of its 18 targets at least a year old were reached within 12 months (#21 of 26 firms); on Meta, 3 of 5. Accuracy ranking →
Jefferies on Meta
Jefferies price targets on Meta
7 calls from October 30, 2025 to September 28, 2026. The target went from $910 to $875 (−4%). The rating stayed Buy.
- September 28, 2026Kept the $875 targetBuy$875
- September 22, 2026Target raised from $825 (+6%)Buy$875
- July 21, 2026 This noteKept the $825 targetBuy$825
- July 1, 2026Upgraded to Buy, target cut from $1,000 (−18%)Buy$825
- January 29, 2026Downgraded to Hold, target raised from $910 (+10%)Hold$1,000
- January 5, 2026Kept the $910 targetBuy$910
- October 30, 2025Earliest call shownBuy$910
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