Meta Platforms (NASDAQ: META) has received an updated outlook from Evercore ISI, with analyst Mark Mahaney reaffirming his ‘Outperform’ rating and citing a strengthening core business along with expanding long-term monetization opportunities.
To this end, Mahaney assigned a price target of $875 for the American technology giant. The value suggests that META stock would need to rally nearly 37% from its last closing price of $640.
Mahaney’s assessment emphasized that Meta’s foundational segments, spanning advertising, engagement, and emerging platform initiatives, are showing renewed momentum that supports durable revenue and margin expansion.
A central focus of his analysis is WhatsApp, which he identified as one of Meta’s most underappreciated business units. Mahaney projects that by 2030, the platform could evolve into a major profit engine, generating around $40 billion in annual revenue, representing roughly 10% of Meta’s total business at that time.
His model also anticipates about $20 billion in operating income and an estimated $7.15 in EPS attributable to WhatsApp alone, highlighting the scale of its long-term contribution. Reflecting this outlook, his updated forecasts place Meta’s 2027 revenue and earnings per share moderately above current Wall Street expectations.
Mahaney also broke down WhatsApp’s growth path into several drivers, including expanded business messaging, monetization of WhatsApp Updates, and rising traction for click-to-message advertising, areas he views as becoming increasingly additive over the next several years.
META stock’s volatility
The analyst additionally addressed recent stock volatility. In this line, Meta shares fell sharply following the company’s third-quarter earnings release but have since climbed off what he described as deep-value levels.
While he noted that the next major catalyst for the stock will likely depend on Meta’s progress in advanced AI and “Super Intelligence” initiatives, he argues that WhatsApp’s accelerating monetization represents a powerful amplification catalyst that enhances the company’s already strong position.
“The key for investors is that Meta is chasing the “AI Leader” opportunity from a Clear Position of Strength. A robust Online ads market, strong user and engagement growth, ramping monetization, and excellent execution are all on display,” the analyst said.
Wall Street bullish on META stock
The bullish outlook is also supported by broader Wall Street sentiment. Among 42 analysts tracked by TipRanks, Meta holds a ‘Strong Buy’ rating, backed by 35 ‘Buys’, six ‘Holds’, and just one ‘Sell’.
The group’s average 12-month price target stands at $838.14, implying a potential 30.78% upside from Meta’s closing price.
Forecasts vary, with the most optimistic analyst setting a price target of $1,117, while the lowest estimate comes in at $655.15 per share.
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