Tech stocks have had their day in the sun. With the market skyrocketing, four-letter tickers were the hot spot of the market. Their innovation, huge growth numbers, and incredible scalability made them favorites. As the market has contracted, money supplies have tightened, and reality set in, everything has changed. Jumping in and buying the dip on stocks that once were the rock stars of the market may sound like a great idea. But I’d caution against doing that, unless you’ve scrubbed the earnings trends on these stocks.

Our Zacks Rank makes that easy, which is why I am naming Meta Platforms (META Quick QuoteMETA - Free Report) as my Bear of the Day. I’m sure you have all heard of, and likely have or have had a Facebook account at one point. Meta is the world’s largest social media platform, evolving from Facebook to Instagram, WhatsApp and Messenger.

The stock is currently a Zacks Rank #5 (Strong Sell) in the Internet – Software industry which ranks in the Top 38% of our Zacks Industry Rank. The reason for the unfavorable Zacks Rank is the series of negative earnings estimate revisions coming from analysts. Over the last sixty days, three analysts have dropped their estimates for the current year, while four have done so for next year. The negative revisions have cut our Zacks Consensus Estimates for the current year from $11.94 to $9.91 while next year’s number is off from $13.96 to $10.76.

Image Source: Zacks Investment Research

That means that this year’s EPS number is going to contract by an eye-watering 28%, while next year’s number is only forecast to grow by 8.6%. On the revenue side, a 1.34% contraction for this year and a 10.35% increase next year.

There are other stocks within the Internet – Software industry which are in the good graces of our Zacks Rank. These include Zacks Rank #1 (Strong Buy) stocks Paylocity (PCTY Quick QuotePCTY - Free Report) and Sychronoss Technologies (SNCR Quick QuoteSNCR - Free Report) .