Meta Platforms, Inc. (NASDAQ: META) is a top Trending AI Stock on Wall Street. Cantor Fitzgerald analyst reiterated an Overweight rating with a $920 price target, citing growth in Meta’s Reels feature. Reels as a percentage of total time spent on FB and IG has increased significantly, contributing to overall engagement increases.

Daily time spent per user on Reels has tripled on Facebook and quadrupled on Instagram, boosting engagement on Meta’s platforms. Unmonetized surfaces saw sharp declines, leading to healthy impression growth for Meta’s advertising business. Reels likely represents around 45% of US ad revenues in FY25E.

Meta’s successful efforts over the last three years have integrated advanced AI models into its surfaces, driving engagement and monetization higher. The company remains a favorite megacap stock, with potential for trends to continue as AI models are further integrated. Some AI stocks offer greater upside potential and less downside risk than Meta.

For investors seeking undervalued AI stocks with significant potential, consider exploring options beyond Meta. Check out our free report on the best short-term AI stock. Explore 10 Must-Watch AI Stocks for Investors and 10 Trending AI Stocks on Wall Street for more investment opportunities. No disclosures.

Read more at Yahoo Finance: Cantor Calls Meta (META) Its Favorite Megacap Stock, Reiterates $920 Price Target