Bernstein Lowers Meta Price Target to $800

Bernstein SocGen Group analyst Mark Shmulik lowered the price target on Meta Platforms Inc.

(NASDAQ: META) to $800 (from $850) while maintaining an Outperform rating.

“Call it ‘Personal Superintelligence’ or ‘AI for everyone’, Mark Zuckerberg’s vision for the consumer AI is consistent in his 2nd annual memo published this week.

The specifics around what AI for consumers looks like, when and if this future presents itself, and how the business model works remain unanswerable.

While everyone else zigs to focus on the easier-to monitize enterprise segment, Meta is zagging towards the greenfield consumer opportunity.

If they can solve consumer, their right to win, or at least compete, across 3.6B users might be unmatched, but it remains an expensive IF.

Meta revenues grew +28% Y/Y [27% FxN] as users returned to growth and AI-charged engagement and ad performance efforts continued to deliver.

3Q revenue guidance of +25% Y/Y at the high-end was a touch above expectations, while operating margins ex-one-time legal fees met the bar at 35%.

The core business continues to see performance tailwinds from AI efforts pointed in this direction. … table stakes.

The bottom end of FY26 expense and CapEx guidance came up modestly, widely expected, while top-end remained unchanged.”

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.