Why Meta Bulls Are Back Before Earnings
A wave of optimism swept through Wall Street as Meta’s July 29 earnings date drew closer.
Investors were circling the stock again like shoppers eyeing a sale.
Meta had climbed 25.16% over the prior month and was up 3.22% year-to-date in 2026.
That kind of momentum tends to get people excited.
The bullish energy was building *before* the earnings report dropped rather than after it.
Traders were positioning early based on expectations of good news.
The setup felt less like a gamble and more like a calculated bet on a company finding its footing again.
Meta’s 10% workforce reduction reported in May had fueled expectations of meaningful EPS upside heading into the print.
Morningstar analysts had set a fair value estimate of $850 per share, suggesting the stock remained moderately undervalued heading into the print.
Markets were also watching central bank moves and interest rate expectations for their broader impact on investor risk appetite.
Where Meta Stock Sits Technically Right Now
With all that bullish energy building ahead of earnings, it helps to zoom out and look at what the charts are actually saying.
Right now, Meta sits in a bit of a mixed zone. TradingView and Investing.com both flash strong buy signals. Broad market benchmarks also suggest investors are favoring large-cap tech names.
But AltIndex flags a death cross, where the 50-day moving average sits below the 200-day. Think of it like a traffic light stuck between green and yellow.
The RSI reads neutral across multiple sources.
Support sits near 659 and resistance near 667. Pivot levels act as key price levels that can signal either a continuation of the current trend or a potential reversal in direction.
Analysts covering the stock remain broadly optimistic, with 63 analysts landing on a Strong Buy consensus and a 12-month price target of $826.01.
How July 29 Earnings Could Move Meta Stock
Meta’s Q2 2026 earnings report lands on July 29, and traders are treating it like a make-or-break moment for the stock.
Meta’s Q2 2026 earnings drop July 29 — and traders are watching like everything depends on it.
Wall Street expects big numbers — $7.19 in earnings per share and $60.22 billion in revenue. That would mean 26.7% year-over-year growth.
Here is what could move the stock:
- A strong revenue beat could push shares toward analyst targets in the $800s
- Weak guidance on spending could spook investors fast
- AI advertising results matter more than almost anything else
- Capex commentary may hit harder than the headline numbers
The report could reward bulls or rattle them quickly. Last quarter, Meta delivered a 55.89% earnings surprise, posting $10.44 per share against an estimate of $6.70. Heading into this print, over 20 analysts have raised their price targets on Meta, with calls ranging from $700 on the low end to $1,144 at the most bullish.
Markets often begin to recover before recessions officially end, so traders may be watching broader market recovery signals as well.
The Bull vs. Bear Price Targets Traders Are Using
Analysts rarely agree on much, but their price targets for Meta tell a surprisingly clear story.
The bull camp clusters around $820 to $845, with averages from MarketBeat, TipRanks, and others all landing in that same neighborhood.
Bears anchor closer to $650 to $700, though Zacks drops as low as $525 for shorter-term models. Market cap often shapes how aggressively analysts set those targets.
A middle zone near $725 sits between both camps.
The most optimistic targets reach past $1,100.
48 Wall Street analysts currently cover Meta, with the consensus average landing at $835.64 per share.
Of the 42 analysts tracked over the last three months, 36 rate Meta a Buy and none recommend selling.
Think of it like a weather forecast: most meteorologists predict sunshine, a few expect clouds, and one guy always predicts a tornado.
The Earnings and Chart Conditions Required for a Meta Stock Breakout
Clearing a high bar is the main challenge for a Meta stock breakout right now. Traders aren’t just watching the numbers — they’re watching how the stock behaves after earnings drop.
Think of it like a high jump: clearing the bar matters, but sticking the landing matters more.
Here’s what traders say must happen:
- Earnings must be strong enough to keep price above $650 to $660
- AI spending must look accretive, not scary
- Revenue growth must justify heavy capital costs
- Post-earnings close above resistance must hold without reversing
A gap-and-fade would likely kill the breakout story fast. A confirmed hold above resistance opens the door to a $700 price target that momentum traders are already circling. The monthly chart adds weight to that case, showing a structure of higher swing highs and higher swing lows that has remained intact through every recent test of support. Traders also pay attention to maximum drawdown as a measure of downside risk during any testing period.
