META Stock Price Forecast: JPMorgan Raises Price Target to $940, Sees Over 50% Upside
AI Podcast
Meta shares fell for five consecutive sessions, declining over 12%, yet JPMorgan maintained an "Overweight" rating and raised its price target to $940, citing strong Q3 earnings, robust advertising growth driven by AI tools, and promising AI product adoption. Despite solid fundamentals and strong long-term momentum supported by the 144-day moving average, short-term technicals show softening as the stock undergoes high-level consolidation. Key support levels lie at the 144-day moving average and $525, while overhead resistance remains near $800. Investors are closely monitoring capital expenditure translation into revenue.
TradingKey - Meta (META) shares have continued to weaken recently. As of the close on October 28 US Eastern Time, the stock fell for the fifth consecutive trading day, with a cumulative decline of over 12%. Amid the pullback, JPMorgan recently further raised its price target on Meta to $940, indicating that the institution maintains relatively positive expectations for the growth of its advertising business and AI products. However, the current stock price trend has not yet shown clear signs of bottoming out.
JPMorgan Raises Meta Price Target to $940, Remains Bullish on AI and Advertising Business
JPMorgan analyst Doug Anmuth raised Meta's price target to $940 from $920 and maintained an "Overweight" rating. Based on the closing price of $620.19 on October 27, the new price target implies a potential upside of approximately 52%. JPMorgan noted that Meta delivered strong third-quarter revenue, operating profit, and adjusted earnings, while the high end of its fourth-quarter revenue guidance of $73 billion to $76 billion was about $1 billion above the bank's previous expectation.
JPMorgan highlighted that Meta's core advertising business maintained rapid growth, with AI advertising tools and video business supporting ad conversion rates, pricing, and revenue growth. Meanwhile, its personal AI assistant Muse surpassed 10 million users after launching in the US and Canada, with approximately 25% of users using it daily, while products such as Muse Wonder, Meta Model API, and Muse Code have also begun to demonstrate early usage demand. On the other hand, Meta's capital expenditures this year are projected to reach $135 billion to $145 billion, reflecting a continued high level of AI infrastructure investment; therefore, the market will remain focused on whether these investments can gradually translate into revenue and cash flow growth.
Meta Stock Technical Analysis
META stock weekly chart, Source: TradingView
From the weekly chart of META's stock price, the shares have weakened for the fifth consecutive week and broken below the 5-day, 10-day, 20-day, and 60-day moving averages, indicating a clear softening in overall momentum. However, the price has not yet broken below the 144-day moving average, suggesting that the long-term bullish trend remains intact.
Currently, the stock's overall price action reflects a high-level consolidation after failing to break through resistance at $800 on a renewed attempt, with $525 and $800 defining the bounds of the range. The price has pulled back to above the 144-day moving average; if signals of stabilization emerge at this moving average, the stock remains poised to test the $800 mark again in the short to medium term.
Conversely, if the stock breaks below the 144-day moving average, it may open up downside room toward $525. If this level fails to hold, the price could experience a deeper pullback toward $500–$478.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
Recommended Articles
Comments (0)
Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.