Evercore Raises Meta Target After Q1 Earnings Beat

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On April 29, 2026, Meta platforms drew analysts’ attention after Evercore ISI lifted its Meta stock price target following a strong first-quarter performance, driven by robust ad revenue growth and higher-than-expected profitability.

Strong Q1 Beat Drives Analyst Re-rating

Meta reported Q1 revenue of $56.3 billion, rising 33% year-over-year and 29% excluding foreign exchange, topping estimates by 2% and landing near the upper end of guidance at $53.5-$56.5 billion. Operating income reached $22.9 billion, delivering a 41% margin and exceeding expectations by 19%. Earnings per share of $10.44 beat consensus by 58%, while gross margin stood at 82%, reinforcing efficiency strength.

Guidance Signals Continued Momentum

For the second quarter, Meta guided revenue between $58 billion and $61 billion, implying about 25% growth at the midpoint. The company also raised capital expenditure guidance to $125-$145 billion and maintained full-year expense guidance at $162-$169 billion, shaping the updated Meta stock price target view.