Here’s How Much Traders See Meta Stock Moving After Connect Event This Week

Meta Platforms' annual Connect conference takes place this week, with traders anticipating the stock could potentially hit a 12-month high following the event.

Analysts have said they expect updates to Meta's AI trajectory at the event, following some signs of early success with its Muse personal agent.

Meta Platforms is set to hold its annual Connect conference this week, with traders anticipating a sizable move from the social media giant's stock.

Based on current options pricing, Meta (META) shares are seen swinging up to 4.5% in either direction by the end of the week. From Monday's close, a move of that size could push the shares above $774, their highest level since last September. The low end of that range would be $708, giving back some of the stock's recent gains.

Meta shares are up about 12% since the start of the year, largely thanks to gains Monday amid a strong day for tech stocks. Enthusiasm around its latest AI models and products, including the Muse personal agent it unveiled last week, have helped bring the stock back into positive territory for the year in recent weeks and fueled hopes for AI-related updates from this week's event.

Meta CEO Mark Zuckerberg is set to give a keynote address at 7 p.m. ET Wednesday (which can be streamed here), with sessions focused towards software developers following on Thursday.

New announcements around Meta's AI efforts could help boost enthusiasm for the Facebook and Instagram parent's stock.

Citi analysts recently wrote that they see the Connect event serving as a likely catalyst for stock gains, as they expect Meta to announce significant updates to its AI product roadmap. With a "buy" rating and $800 price target, the analysts said Meta remains one of their top picks in the internet sector.

Earlier this month, JPMorgan analysts upgraded Meta to "overweight" from neutral, and hiked their price target to $820 from $640. The analysts said they see "meaningful upside potential" for Meta from AI-driven offerings, and told clients they believe Meta's sizable user base across Facebook, Instagram, and WhatsApp makes it well-positioned to make winning AI products.

Analysts are overwhelmingly bullish on Meta stock ahead of the Connect event, with all but one of the 19 analysts tracked by Visible Alpha calling the stock a "buy," while one holds a neutral rating. Their average price target around $782 would suggest around 5% upside from Monday's close.

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