**Meta Platforms Analysis by Evercore Analyst**
Mark Mahaney, an analyst at Evercore, has identified Meta Platforms (NASDAQ: META) as his top large-cap investment, asserting the company is currently undervalued with a revised price target of $820, down from $930. Despite a recent 10% drop in share price following an underwhelming earnings report on July 22, 2026, Mahaney anticipates continued revenue growth driven by rising advertising demand and artificial intelligence enhancements.
Key financial metrics indicate that Meta showcased a 28% year-over-year revenue increase, reaching $60.8 billion in Q2 2026, and a 14% rise in ad impressions. However, mounting concerns around capital expenditures, which surged 55% to $42 billion, have unsettled investors, as Meta also raised its 2026 capital expenditure guidance to between $130 billion and $145 billion. Earnings per share for the second quarter fell to $6.18, below analyst expectations of $7.14. Meta’s substantial investment in AI, coupled with delays in model rollouts, has created a cautious outlook amidst its overall growth potential.
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