Despite Meta Platforms, Inc. (NASDAQ: META) stock dropping over 10% in five days due to a sharp surge in its third-quarter (Q3) capital expenditures (CapEx) that created a $2.12 billion Free Cash Flow (FCF) deficit, more than a dozen Wall Street analysts have overwhelmingly signaled a bullish outlook for the next 12 months.
As of October 22, 2026, 44 Wall Street analysts surveyed by TipRanks over the past three months had set an average 12-month price target for Meta stock at $845.90.
With META trading at $652.27 on Thursday, these analysts signal a potential 29.69% upside over the next 12 months.
Earlier on Thursday, Ken Gawrelski, an expert at Wells Fargo & Co. (NYSE: WFC), lowered his 12-month price target on Meta to $995 from $1,000 while maintaining an ‘Overweight’ rating.
Ronald Josey, a researcher at Citigroup Inc. (NYSE: C), raised his price target for Meta META to $905 from $895 and maintained a ‘Buy’ rating.
Why are analysts strongly bullish on META stock amid selloff?
Although Meta plummeted after it reported Q3 results on Wednesday, with an outflow in its FCF, Wall Street analysts have turned largely bullish since its escalated spending is a strategic reinvestment to strengthen its Muse Wonder artificial intelligence (AI) model.
Moreover, analysts believe that the investment is fully backed by Meta’s high-margin advertising engine – including WhatsApp, Facebook, and Instagram – that surged 26% year-over-year to $63.06 billion.
Is Meta a good stock to buy?
Over the past 12 months, META stock had declined 11.13% at the time of reporting, thereby pushing the company’s market capitalization to $1.8 trillion.
Even though Meta’s price has been trapped in a choppy consolidation over the past 12 months, Wall Street analysts are confident of another rally towards a new all-time high (ATH) by October 22, 2027.
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