TLDR
- META stock has risen 10% since the Sept. 8 launch of Muse, its consumer AI agent
- Citi reiterates a Buy rating with an $800 price target and adds an upside 90-day catalyst watch
- Meta Chief AI Officer says Muse is getting more daily U.S. downloads than Threads, WhatsApp and Facebook
- Meta launched its Meta One subscription program, which has already reached 15 million subscriptions and trials
- Q2 revenue came in at $60.8 billion, up 28% year over year, though EPS of $6.18 missed the $7.19 estimate
Meta Platforms stock is trading at $681.90 in premarket Thursday, up 1.1%, and on pace for a fifth straight day of gains. META has climbed 10% since Sept. 8, when the company launched Muse, its personal AI agent.
Meta Chief AI Officer Alexandr Wang called Muse “the biggest consumer AI launch since ChatGPT” in a post on X. Wang added that Muse is pulling in more daily U.S. downloads than Threads, WhatsApp and Facebook.
Citi analyst Ronald Josey added an “upside 90-day catalyst watch” on META Thursday ahead of the company’s Meta Connect event next week. Josey also held his Buy rating and $800 price target.
Josey said he has “been impressed with the experience” on Muse and pointed to strong download numbers as a positive signal.
Looking ahead, Citi expects the Meta Connect event to include an update on Meta’s AI product strategy. Josey also noted that Meta will soon launch an advanced AI model internally known as “Watermelon.”
“We believe META’s product roadmap is becoming clearer suggesting multiple product catalysts ahead,” Josey wrote.
Meta One Adds Another Revenue Layer
Earlier this week, Meta formally launched Meta One, a new subscription program that offers higher AI usage limits and professional tools across Facebook, Instagram and WhatsApp.
The program has already reached 15 million subscriptions and trials. Rosenblatt analyst Barton Crockett said Meta One could drive a multi-billion dollar revenue run rate in the coming years.
Crockett wrote that Meta One “builds upon momentum Meta is realizing with its new Muse personal agentive capability, which continues to stand near the top of app store rankings since its Sept. 8 launch.”
Rosenblatt holds a Buy rating on META with an $886 price target. JPMorgan has also flagged improving AI monetization and better advertising performance as positives.
Q2 Earnings and Institutional Ownership
Meta’s most recent earnings, released July 29, showed revenue of $60.8 billion for Q2, up 28% year over year and ahead of the $60.22 billion estimate. EPS came in at $6.18, missing the $7.19 consensus.
Institutional investors own 79.91% of META stock. George Kaiser Family Foundation raised its stake by 432.5% in Q2, buying 2,967 additional shares.
META’s average analyst price target sits at $788.88, with a “Moderate Buy” consensus. Four analysts rate it Strong Buy, 34 rate it Buy, and nine have it at Hold.
Meta also declared a quarterly dividend of $0.525 per share, payable Sept. 28 to stockholders of record as of Sept. 21. The ex-dividend date is Sept. 21.
The stock opened Thursday at $673.31. Its 12-month range runs from $520.26 to $790.80.
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