Meta Platforms Price Target Trimmed by Wells Fargo

Wells Fargo trimmed its terms people connected Meta Platforms (NASDAQ:META) to $765 from $856 portion maintaining an Overweight standing up of quarterly results. The chopped acknowledges near-term macro uncertainty, but the firm's halfway thesis remains intact: risk/reward looks charismatic for investors consenting to clasp done the sound heading into earnings.

So acold this year, shares of the Magnificent Seven institution person mislaid 12.63%, dragging their one-year nonaccomplishment down to 2.68%.

Wells Fargo's revised people reflects a much cautious macro backdrop, but the firm's gross outlook stays constructive. Wells Fargo's Q1 estimation sits supra consensus, and the steadfast expects Q2 guidance to bracket consensus, assuming nary further macro deterioration. The cardinal qualifier: patience is required. The Overweight standing signals the steadfast views the existent pullback arsenic an introduction accidental alternatively than a structural breakdown successful the thesis.

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Meta reported a beardown decorativeness to fiscal 2025. Q4 2025 EPS came successful astatine $8.88 against an $8.22 estimate, portion gross of $59.89 cardinal bushed the $58.48 cardinal consensus. For the afloat year, gross reached $200.97 cardinal and operating income deed $83.28 billion. The advertizing motor continues to thrust the business, with advertisement impressions up 18% year-over-year (YoY) and mean terms per advertisement up 6%. The company's household of apps reached 3.58 cardinal regular progressive people, a 7% summation YoY.

The concern communicative for 2026 centers connected a monolithic superior commitment. Management guided for full-year superior expenditures of $115 to $135 billion, a melodramatic measurement up from anterior levels, directed mostly astatine AI infrastructure done Meta Superintelligence Labs. Management expects 2026 operating income to transcend 2025 levels contempt the spending ramp.