DA Davidson Lowers Meta Price Target to $700

DA Davidson analyst Gil Luria lowered the price target on Meta Platforms Inc.

(NASDAQ: META) to $700 (from $850) while maintaining a Buy rating.

“META reported 2Q26 earnings that beat expectations on the top line but 3Q26 revenue guidance fell short of consensus estimates.

Results in the quarter were highlighted by another raise to its capital expenditures guide that now calls for $137.5B at the midpoint now as META continues to ramp spend on compute to service new AI experiences to consumers and enterprises.

Management noted the large opportunity around selling compute directly but is prioritizing selling intelligence longer term with meaningful growth to come across all areas.”

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