Meta Platforms shares trade near $615 following Q3 2026 results that delivered 26% revenue growth to $64.6 billion, driven by 26% advertising gains and early traction from the Muse AI tools. Heavy capital expenditures of $34.9 billion produced negative free cash flow, while a large legal settlement weighed on reported earnings, prompting post-earnings volatility consistent with prior quarters. Analysts maintain strong-buy ratings with average 12-month targets near $848, citing resilient ad pricing and monetization efficiency amid ongoing AI infrastructure buildout. November catalysts include sustained user engagement metrics, potential further AI product updates, and any shifts in operating expense guidance as the company prepares for 2027 budgeting and a new non-voting share class to support growth.
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