Meta Platforms, Inc. (NASDAQ:META) is one of the 10 Best AI Stocks to Watch in May. On April 30, Evercore ISI increased its price target on Meta to $930 from $900 and kept an Outperform rating on the shares as it highlighted the company’s AI deployment strength, according to a report by Investing.com.

While acknowledging Meta’s proven ability to deploy AI to improve customer experience for both consumers and advertisers, Evercore noted that the company now faces the question of whether it can become one of the leading superintelligence companies. It cited this as a generational opportunity, noting that Meta currently trails AI market leaders.

On April 29, Meta announced a 61% jump in net income in the first quarter of the year to $26.8 billion, while revenue posted a 33% gain to $56.3 billion.

“We had a milestone quarter with strong momentum across our apps and the release of our first model from Meta Superintelligence Labs. We’re on track to deliver personal superintelligence to billions of people,” Meta Founder and CEO Mark Zuckerberg said.

Meta CFO Susan Li said the company expects second-quarter total revenue to be in the range of $58-$61 billion. She added:

“We anticipate 2026 capital expenditures, including principal payments on finance leases, to be in the range of $125-145 billion, increased from our prior range of $115-135 billion. This reflects our expectations for higher component pricing this year and, to a lesser extent, additional data center costs to support future year capacity.”

According to 73 analyst ratings compiled by CNN, 90% rated Meta Buy, while 10% rated it Hold. As of April 30, Meta has a median price target of $841, a 37.44% upside from the current price of $611.91.

Meta Platforms, Inc. (NASDAQ:META) is engaged in developing social media applications. It operates several popular social media platforms, including Facebook, WhatsApp, Instagram, and Threads.

While we acknowledge the potential of META as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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