Meta Platforms Inc. (NASDAQ:META) stock traded higher by almost 1% during Thursday’s premarket session as risk appetite firms up into the open. Nasdaq futures are up 0.56% while S&P 500 futures have gained 0.09%.
The Big Tech giant is scaling its AI infrastructure and developing new ways to monetize artificial intelligence as it looks to strengthen advertising growth, expand revenue sources and eventually improve margins despite elevated capital spending.
Jones Sees AI Driving Top-Line Growth
BNP Paribas analyst Nick Jones expects Meta to continue delivering robust revenue growth as it monetizes its AI investments.
The analyst reiterated an Outperform rating on Meta with an $855 price forecast, implying about 57% upside from the stock’s Aug. 18 price of $543.70.
