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Facebook-parent Meta Platforms Inc (NASDAQ:META) closed higher for the 17th straight session on Tuesday, gaining around 18% during the nearly 4-week stretch.
The stock closed up about 0.3% Tuesday and is now up over 22% since the start of 2025 and up 54% over the last year.
Meta is spending a ton on AI and investors are convinced the company will be able to turn that spending into bottom line results. Founder Mark Zuckerberg announced in mid-January that the company plans to spend up to $65 billion on capex this year calling 2025 “a defining year for AI.”
The company’s fourth quarter earnings report on January 29th reinforced the company’s strong results and AI game plan. In the quarter, the company posted impressive revenue growth of 21% to $48.39 billion and EPS growth of 50% to $8.02.
Wall Street analysts have been singing the company’s praises amid the results and outlook.
After the company’s strong results, RBC Capital analyst Brad Erickson raised his price target on Meta to $800 saying, “… given the company’s leading position in AI, broad opportunities to grow utility for its users, and differentiated optionality stemming from compute capacity, we think that only the most select group of companies might be as comprehensively well-prepared to fully or over-participate in the long-term adoption of AI.”
Elsewhere, Rosenblatt analyst Barton Crockett raised his price target to $846, saying, “[n]obody is more bulled up on AI than Meta. And Meta might have more benefits to show from AI than anyone."