One Number Could Tell Us Where Meta Stock Goes Next

A forecast highlighted by 24/7 Wall St. puts Meta’s 12-month price target at $916.40, implying 25.05% upside from a reference price of $732.82 and a “buy” rating. The key variable identified is Meta’s capital spending, with the company guiding 2026 capex to $130 billion–$145 billion versus $72.22 billion in 2025. The bullish case ties the buildout to sustained ad revenue growth at about a 27% pace, arguing it creates a “moat.” Meta shares are up 26.3% over the past month and 10.79% year to date, but have faced near-term jitters over AI spending. Despite a Q2 2026 revenue gain of 27.96% to $60.80 billion, diluted EPS of $6.18 missed a $7.22 estimate, operating margin fell to 31% from 43%, and free cash flow dropped to $784 million from $8.55 billion. Analysts are largely optimistic, with 8 strong buys, 47 buys, 7 holds and zero sells. The bear scenario is $781.71.