After Meta ‘s stronger-than-expected earnings report, Wall Street is looking at the path ahead for the social media giant. The Facebook and Instagram parent said it earned $6.43 per share on revenues of $42.31 billion in the first quarter. Analysts polled by LSEG expected $5.28 per share and $41.40 billion in revenue. Meta gave a second-quarter sales outlook that was in line with consensus estimates. Also of note, Meta’s Reality Labs hardware division posted a smaller operating loss than Wall Street expected. Shares rallied more than 6% before the bell on Thursday. That marks a turn for the Big Tech stock, whose shares have slid more than 6% so far in 2025. The lion’s share of analysts polled by LSEG have buy ratings on the stock. Following the report, CNBC Pro compiled some of the key takeaways by major firms: Citi Analyst Ronald Josey reiterated his buy rating. He also hiked his price target from $655 to $690, which now reflects 25.7% upside over Wednesday’s close. “Key here is that Meta’s adv. demand trends appear to be relatively healthy and while we’re watching for any impacts from macro and lower spend from China-based advertisers given the de minimis change, Meta’s scale of users and advertisers + focus on newer products are offsetting some macro challenges.” Wells Fargo Analyst Ken Gawrelski has an overweight rating. Gawrelski slashed his price target from $752 to $664, but that still suggests upside of 20.9%. “Very solid ad trends through April, w/ 2Q revenue guide above fears. Keeping its foot on the pedal, Meta accelerates CapEx spend for FY25. Expect market to increasingly demand tangible signs of ROI, most notably in form of higher ’26 revenue growth.” Goldman Sachs Analyst Eric Sheridan has a buy rating and price target of $690, implying the stock can rally 25.7%. “Against investor debates about the health of the macroeconomic environment, META mgmt framed its one quarter forward revenue commentary as based on market and advertiser signal to date but with open questions likely remaining for investors on geographic exposure, category exposure and how changed demand trends might be reflected into ad budget allocation in the coming quarters.” JPMorgan Analyst Doug Anmuth has an overweight rating. Anmuth upped his price target by $65 to $675, which means the stock can jump 23% in the next year. “We know it’s not that easy to execute so well & deliver strong growth off a big base. But we believe Meta is keenly aware that with strong execution & AI transparency, it will get a longer leash from the Street on AI investments, specifically capex. We continue to believe that Meta is well positioned for a tougher macro environment given its scaled advertiser base, highly performant platform, & vertical agnostic inventory. While Meta is certainly not immune, depth of slowdown will ultimately determine Meta’s degree of resilience.” Morgan Stanley Analyst Brian Nowak has an overweight rating on the stock. Nowak increased his target price from $615 to $650, which now suggests 18.4% in upside. “Big picture, we believe META’s leading global reach, best in class and still improving ad product and relative ROI are delivering results. We also believe its cohort based audience bidding design among its vertically agnostic advertiser base is set to provide more support and density in the auction market if there is a macro pullback.” Bernstein Buy-rated analyst Mark Shmulik has a $700 price target, which projects a surge of 27.5%. “Meta has been busy playing dodgeball. The company is busy diving out of the way of changing advertiser behavior tied to tariffs and consumer spending, trying to duck emerging regulatory curveballs out of Europe and the US, and dodging margin compression by reigning in full year expenses. The offense seems to be clicking too, throwing fastballs on ad tech and engagement improvements, launching new products across Threads ads, Meta AI, and Edits apps, and long distance throws on Business Messaging and Wearables. The catch is that it’s expensive to fiend a winning Dodgeball team with CAPEX going up. The game is still ongoing, but it looks like Meta is winning.”
