20 Trending AI Stocks on Latest Analyst Ratings and News

4. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 219

Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. The company recently released the latest large language model, Llama 3.2, also announcing mini versions of the LLM that allow them to fit on edge and mobile devices. The products were revealed during the Meta Connect 2024 event. First looks reveal that the Llama 3.2 1B and 3B models are text-only and support a context length of 128k tokens. They can perform on-device use cases such as summarizations, following instructions and rewriting tasks locally. The models are enabled for Qualcomm and MediaTek hardware and optimized for Arm processors.

Citi analyst Ronald Josey recently raised the price target on Meta Platforms, Inc. (NASDAQ:META) stock to $645 from $580 and kept a Buy rating on the shares. In an investor note, the analyst noted that as Reels ad load and usage continued to expand, Meta’s discovery engine and content recommendation models, powered in part by its investments in generative artificial intelligence, were a competitive advantage and represented a clear path of large language models return on investment.