Meta shares advance 10% after Muse AI agent debut

  • Meta launched Muse, its consumer-focused AI agent, on September 8.
  • Meta shares gained 10% after Muse’s debut and traded at $681.90 Thursday premarket.
  • Citi maintained its Buy rating and $800 price target ahead of next week’s Meta Connect conference.

Meta Platforms shares have gained 10% since the September 8 debut of Muse, the company’s consumer-focused AI agent, with the stock positioned for a fifth consecutive session of gains at $681.90 in Thursday premarket trading. Meta Chief AI Officer Alexandr Wang said Muse is recording more daily U.S. downloads than Threads, WhatsApp, and Facebook combined. Citi analyst Ronald Josey maintained a Buy rating and $800 price objective while initiating a 90-day upside catalyst watch ahead of next week’s Meta Connect conference, where he expects an update on Meta’s artificial intelligence product strategy and possible details on an enhanced model known internally as Watermelon. Meta has also introduced Meta One, a subscription offering with higher AI usage capacity and professional features across Facebook, Instagram, and WhatsApp; it has accumulated 15 million subscriptions and trial users. Rosenblatt analyst Barton Crockett said the service could eventually become a multi-billion-dollar annual revenue stream, while Rosenblatt maintains a Buy rating and $886 price objective. Meta’s second-quarter revenue rose 28% year over year to $60.8 billion, exceeding the $60.22 billion estimate, although EPS of $6.18 missed the $7.19 consensus forecast. Institutional investors hold 79.91% of META shares, and the average analyst price target is $788.88 with a Moderate Buy consensus. Meta also declared a quarterly dividend of $0.525 per share, payable September 28 to shareholders of record September 21, with September 21 as the ex-dividend date.

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