10 AI Stocks Analysts are Tracking Closely

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Investors: 260

Meta Platforms, Inc. (NASDAQ:META) is one of the 10 AI Stocks Analysts are Tracking Closely. On November 13, Wedbush added the stock to its “Best Ideas List”; keeping an Outperform rating and a $920 price target.

The firm sees more upside in Meta driven by robust core ad growth, AI hardware momentum, and optimism fueled by Meta AI and Superintelligence Labs.

While there has been caution surrounding Meta’s expense and capex outlook, the company’s spending stands “justified,” considering how AI capabilities have been infused across its advertising systems and content recommendation engines.

“Post-results, we think the disconnect between fundamentals and investor sentiment offers attractive upside to META, BKNG, and DASH. With this report, we are adding META to the Wedbush Best Ideas List, and upgrading our ratings of BKNG and DASH to Outperform.”

The firm believes that there are signs of healthy underlying demand in the core business and sees management committed to long-term strategic goals.

Meta Platforms has been expanding its advertising capabilities and also invests heavily in artificial intelligence and the metaverse.