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Meta Is a Top S&P Gainer Today. Here's Why The Social-Media Stock Is Surging.
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Investors rewarded Meta (META) for the news: Its stock is among the top gainers in the S&P 500, and it's the only member of the group of seven big U.S. tech stocks climbing.
They raised their price target on the stock to $900 from $880 previously.
Meta AI, its multilingual virtual assistant integrated across the Facebook, Instagram, and WhatsApp as well as its Ray-Ban glasses, reached over one1 billion monthly active users.
They raised their price target on the stock to $825 from $750.
The company's capital expenditure guide for this year—$115 billion to $135 billion—exceeded Street estimates of around $110 billion, likely raising some eyebrows.