Artificial intelligence-driven momentum in Meta Platforms' advertising business is boosting Wall Street's confidence that the company's massive investment in AI will deliver substantial revenue over time. KeyBanc on Wednesday increased its Meta price target to $540 per share from $475 — citing a "meaningful uptick in Meta ad prices" quarter to date.
mountain Meta stock performance year-to-date. Riding the tech and AI trade, Meta shares closed at a record high of $527 each on April 5. The stock pulled back some going into the company's first-quarter results after the bell on April 24. The next day shares sank 10.5% on weak revenue guidance and an increased capital expenditure outlook. On the post-earnings call, management said it will continue to "invest aggressively to support our AI research and product development efforts.
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