Meta Platforms Inc. (NASDAQ:META) stock climbed nearly 7% on Monday as investors returned to mega-cap technology stocks after last week’s post-earnings selloff. The broader market also advanced, with the Nasdaq rising 1.67% and the S&P 500 gaining 1.34%.
Earnings Snapshot
Meta reported mixed second-quarter results on July 29. Revenue rose 28% year over year to $60.8 billion, topping estimates of $59.5 billion, while adjusted EPS of $6.18 missed the consensus of $7.13.
Meta expects third-quarter revenue of $61 billion to $64 billion, roughly in line with Wall Street estimates.
The company also raised the low end of its 2026 capital expenditure guidance to $130 billion-$145 billion, up from the previous $125 billion-$145 billion range, as it continues to invest in AI infrastructure.
The stock tumbled in after-hours trading following the report.
Technical Picture
Despite Monday’s rebound, Meta remains below several key moving averages. The stock trades 4.3% below its 20-day simple moving average, 1.3% below its 50-day average, 2.7% below its 100-day average and 6.3% below its 200-day average. Shares are down 23.5% over the past 12 months.
The relative strength index stands at 47.91, indicating neutral momentum. That suggests buying and selling pressure remains balanced.
The 20-day moving average remains above the 50-day average, offering a near-term bullish signal. However, the 50-day average remains below the 200-day average, a longer-term bearish pattern known as a “death cross.”
Traders are watching resistance near $606 and support around $577.
Sector Performance
Meta outperformed the broader Communication Services sector on Monday, rising about 6.5% compared with the sector’s 2.93% gain.
The sector has gained 1.1% over the past 30 days but remains down 3.7% over the past 90 days, suggesting it is still recovering from recent weakness.
Analyst Outlook
The stock carries a consensus Buy rating with an average analyst price forecast of $767.42. Following second-quarter results, UBS lowered its price forecast to $715, Baird cut its forecast to $750 and Goldman Sachs reduced its forecast to $725 while maintaining bullish ratings.
ETF Exposure
Meta remains a top holding in several growth-focused exchange-traded funds, including the Capital Group Growth ETF (CGGR), Invesco AI and Next Gen Software ETF (IGPT) and Natixis Loomis Sayles Focused Growth ETF (LSGR). Strong inflows or outflows in those funds can influence demand for the stock.
META Stock Price Activity: Meta Platforms shares were up 6.48% at $592.76 at the time of publication on Monday, according to Benzinga Pro data.
Photo via Shutterstock
