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Meta Platforms (META) Outperforms Broader Market: What You Need to Know
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Meta Platforms (META - Free Report) closed the most recent trading day at $764.70, moving +1.21% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.47%. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.94%.
The stock of social media company has fallen by 3.77% in the past month, lagging the Computer and Technology sector's gain of 3.88% and the S&P 500's gain of 2.32%.
The upcoming earnings release of Meta Platforms will be of great interest to investors. The company's upcoming EPS is projected at $6.74, signifying a 11.77% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $49.39 billion, up 21.68% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $28.13 per share and revenue of $195.91 billion, indicating changes of +17.9% and +19.1%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Meta Platforms. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% higher. Currently, Meta Platforms is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Meta Platforms is presently being traded at a Forward P/E ratio of 26.86. This indicates a discount in contrast to its industry's Forward P/E of 31.21.
It is also worth noting that META currently has a PEG ratio of 1.56. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 2.24 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Meta Platforms (META) Outperforms Broader Market: What You Need to Know
Meta Platforms (META - Free Report) closed the most recent trading day at $764.70, moving +1.21% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.47%. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.94%.
The stock of social media company has fallen by 3.77% in the past month, lagging the Computer and Technology sector's gain of 3.88% and the S&P 500's gain of 2.32%.
The upcoming earnings release of Meta Platforms will be of great interest to investors. The company's upcoming EPS is projected at $6.74, signifying a 11.77% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $49.39 billion, up 21.68% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $28.13 per share and revenue of $195.91 billion, indicating changes of +17.9% and +19.1%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Meta Platforms. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% higher. Currently, Meta Platforms is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Meta Platforms is presently being traded at a Forward P/E ratio of 26.86. This indicates a discount in contrast to its industry's Forward P/E of 31.21.
It is also worth noting that META currently has a PEG ratio of 1.56. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 2.24 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.