Meta Platforms reports Q1 EPS of $10.44 versus consensus $6.82; analysts raise price targets following strong earnings and AI progress

On April 29, 2026, Meta Platforms reported Q1 EPS of $10.44 versus consensus $6.82 and Q1 revenue of $56.31B versus $55.56B consensus. The company expects Q2 revenue of $58B to $61B.

BofA analyst Justin Post raised the price target to $835 from $820 and noted increased investment in AI capacity alongside headcount reductions. Barclays analyst Ross Sandler lifted the price target to $830 from $800, citing faster growth than the digital advertising industry while reducing costs. Evercore ISI analyst Mark Mahaney raised the price target to $930 from $900.

CEO Mark Zuckerberg highlighted the release of Meta's first model from Meta Superintelligence Labs and said the company saw "strong momentum" across its apps. Justin Post raised 2027 revenue guidance to $101B and EPS to $34.46 following the quarter's results.