Meta Platforms (NASDAQ: META) continues to be one of the top-performing AI stocks. As of the Feb. 6 close, the shares have appreciated by 22%. That’s by far the best performance of any of the Magnificent Seven stocks. After the company’s recent earnings report, the stock has received many upgrades from Wall Street analysts. Since the release, 22 Wall Street analysts MarketBeat tracks have issued new price targets on the stock. Of them, 21 upgraded their targets; the other left it unchanged.
Overall, the average of their new price targets implies an upside in the stock of 7%. That might not sound like much, but it's notable, considering that the company is among the most upgraded stocks on the market. This means that recently, once Meta reaches its price target, it will be upgraded again. This isn’t surprising, given the company’s strong earnings results. Below, I’ll break down the recent results from Meta. I’ll also highlight how the company continues adding value to its advertising business. Lastly, I’ll explain why there is still a lot of reason to be bullish on this big tech name.
