What the analyst said
TD Cowen analyst John Blackledge lowered the price target on Meta Platforms Inc.
(NASDAQ: META) to $850 (from $865) while maintaining a Buy rating.
“META 3Q26 rev growth of +26.1% y/y, and +26% x-FX (vs +27% y/y in 2Q26), was +2.0% vs consensus and 1.4% above our est. Ad rev was 2% above cons, reflecting strength across all regions.
Op Inc of $13.0BN reflected $9.9BN in legal charges; ex 1x charges, Op Inc grew 11% y/y and was 4% above our estimate (+13% vs consensus).
Excluding impact of 1x legal settlement charges, EPS would have been $7.40, above consensus $6.54 estimate.
3Q impressions growth of +10% y/y was supported by a double-digit y/y increase in Instagram time spent per user and double-digit % increase in Facebook Reels time spent; mgmt. cited continued improvements to recommendation systems.
META ad pricing grew 14% y/y, vs +12% y/y in 2Q26 and supported by improving ad performance and better macro (vs 3Q25).
4Q26 Revenue Guide was +3% vs Consensus Estimate at High End: 4Q rev guide of $73BN to $76BN, +21.9% to +24.4% y/y, was 3% above cons pre-print est at high end (incl 1pt FX headwind).
We expect META to continue to drive engagement & ad performance through LLMpowered user & content understanding.”
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Where the price stands
META trades at $649. The 33 analysts who set a target in the last 3 months range from $595 to $1,000, with a median of $850. This $850 target is in line with the median.
12-month window: day 0 of 365, closes on October 22, 2027.
Track record
This callOpen: a 12-month target, scored on October 22, 2027, a year after the note.
Firm track recordTD Cowen: 83% of its 23 targets at least a year old were reached within 12 months (#15 of 28 firms). Accuracy ranking →
TD Cowen on Meta
TD Cowen price targets on Meta
7 calls from January 13, 2026 to October 22, 2026. The target went from $820 to $850 (+4%). The rating stayed Buy.
- October 22, 2026 This noteTarget cut from $865 (−2%)Buy$850
- October 8, 2026Kept the $865 targetBuy$865
- September 25, 2026Target raised from $750 (+15%)Buy$865
- July 30, 2026Target cut from $800 (−6%)Buy$750
- April 30, 2026Target cut from $820 (−2%)Buy$800
- January 29, 2026Kept the $820 targetBuy$820
- January 13, 2026Earliest call shownBuy$820
Other analysts on Meta
RBC CapitalBuy
Raised price target +4%, kept rating · Oct 22
$800from $770
SusquehannaBuy
Raised price target +31%, kept rating · Oct 22
$850from $650
BairdBuy
Raised price target +9%, kept rating · Oct 22
$815from $750
William BlairBuy
Kept rating · Oct 22
JP MorganBuy
Raised price target +2%, kept rating · Oct 22
$940from $920