Top Citizens JMP analyst Andrew Boone reiterated a Buy rating on Meta Platforms (META) stock with a price target of $900, noting the progress and strength of the company’s artificial intelligence (AI) tools. META stock has risen 22% year-to-date, as the social media platform is aggressively leveraging AI to drive greater efficiency and gains across its ad system.
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Citizens JMP Analyst Is Upbeat on Meta’s AI Tools
Boone highlighted that Meta Platforms’ AI-generated tools are helping to lower creative costs, with about 2 million advertisers using the company’s video generation tools alone. He expects greater personalization through AI tools to enhance advertising performance.
Furthermore, the 5-star analyst noted that both Meta and Alphabet’s (GOOGL) Google have historically attributed half of their overall campaign performance to creative aspects, which indicates the potential impact of these AI tools.
In particular, Boone mentioned Meta’s AI business assistant, stating that AI agents can scale interactive experiences across the platform. He expects Meta Platforms’ Messaging Ads, already a $10 billion business, to continue to grow amid continued AI adoption.
Last week, Meta Platforms launched its Business AI digital assistant, which will help companies offer their customers more personalized product recommendations and faster ways to buy goods via chat interactions.
Is META Stock a Buy?
Given AI tailwinds, Wall Street has a Strong Buy consensus rating on Meta Platforms stock based on 40 Buys and six Holds. The average META stock price target of $876.93 indicates 23.2% upside potential from current levels.
