Evercore ISI maintains Outperform rating on META, citing $2.5 billion annual revenue potential from AI subscriptions and smart glasses.
Meta Platforms (META) received an Outperform rating and $930 price target from Evercore ISI, driven by new AI subscription services and smart glasses. The firm estimates $2.5 billion in additional annual revenue if 1% of 5.9 billion daily active users adopt the $3.50 average subscription tier.
The company launched $299 smart glasses, undercutting its second-gen Ray-Ban glasses by $80, amid rising competition in the AR device market. Meta also introduced paid subscriptions across Facebook, Instagram, and WhatsApp, combining app-level benefits with expanded Meta AI access.
Evercore’s outlook highlights META’s growth potential beyond core advertising, leveraging its user base and AI integration to diversify revenue streams.