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Meta Platforms Inc. (META) stock edged higher in Wednesday premarket trading as investors continued to favor large-cap technology stocks.
The move came despite a softer broader market. Nasdaq futures fell 0.24%, while S&P 500 futures slipped 0.09%.
Analyst sentiment also remained upbeat Wednesday, with KeyBanc and Cantor Fitzgerald raising their price forecasts on Meta while maintaining Overweight ratings.
Separately, Meta tested a "human concierge" feature for its new Muse AI assistant, using contractors to handle some phone calls placed through the service, Reuters reported.
Meta enabled the feature for half of its employees last week, according to an internal post cited by Reuters. Under the test, Muse could hand a request to a trained human agent, who would place and handle the call. Employees could opt out.
Some Meta employees raised concerns that human agents could gain access to sensitive information during calls. Internal posts cited by Reuters warned that information could be shared unintentionally with contractors working in call centers.
Meta has since rolled back the feature.
Meta has held above its recent breakout area. Traders are watching whether that strength can continue as broader market sentiment remains cautious.
The stock is trading well above key moving averages. It is 16.4% above its 20-day simple moving average of $633.06. It is also 17.9% above its 200-day SMA of $625.11.
That setup supports the longer-term bullish trend. However, it also leaves the stock vulnerable to a pullback if momentum fades.
The 20-day SMA is above the 50-day SMA, another positive technical signal. However, the 50-day SMA remains below the 200-day average following a "death cross" in December 2025.
Meanwhile, Meta's relative strength index stands at 75.68. An RSI above 70 is generally considered overbought. That suggests the stock could be due for consolidation after its recent rally.
Resistance sits near $744. A breakout above that level could support further upside. Support is near $595 if the stock sees a deeper pullback.
Meta carries a Buy consensus rating with an average price forecast of $793.08.
KeyBanc raised its price target to $900 from a previous level Wednesday and maintained an Overweight rating. Cantor Fitzgerald also maintained an Overweight rating and raised its target to $860. Bank of America maintained a Buy rating and $810 price target Tuesday.
The stock trades at about 27.7 times earnings.
Meta scores strongly on growth, momentum and quality in the MarketDash Edge rankings.
Its Growth score stands at 79.72, while Momentum is 78.77 and Quality is 75.93. Value is lower at 47.03.
The readings point to a stock supported by growth and momentum, although its valuation profile is less compelling.
Meta is also a major holding in several exchange-traded funds.
The Invesco AI and Next Gen Software ETF (IGPT) has an 8.43% weighting in Meta. The Natixis Loomis Sayles Focused Growth ETF (LSGR) has an 8.12% weighting, while the Invesco Nasdaq Internet ETF (PNQI) has a 7.89% weighting.
Large fund flows into or out of these ETFs can therefore contribute to buying or selling pressure in Meta shares.
META Price Action: Meta shares rose 0.39% to $739.48 in Wednesday premarket trading, according to market data.
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