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Meta Platforms (META) Outpaces Stock Market Gains: What You Should Know
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Meta Platforms (META - Free Report) ended the recent trading session at $628.24, demonstrating a +2.58% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.62%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.83%.
Shares of the social media company have depreciated by 6.48% over the course of the past month, underperforming the Computer and Technology sector's gain of 2.41%, and the S&P 500's gain of 0.8%.
The investment community will be paying close attention to the earnings performance of Meta Platforms in its upcoming release. The company's upcoming EPS is projected at $6.69, signifying a 4.04% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $55.34 billion, indicating a 30.78% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $29.82 per share and revenue of $249.12 billion, which would represent changes of +26.95% and +23.96%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Meta Platforms. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. Right now, Meta Platforms possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Meta Platforms is currently exchanging hands at a Forward P/E ratio of 20.54. This represents a premium compared to its industry average Forward P/E of 18.39.
It is also worth noting that META currently has a PEG ratio of 0.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry had an average PEG ratio of 1.03 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 141, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow META in the coming trading sessions, be sure to utilize Zacks.com.
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Meta Platforms (META) Outpaces Stock Market Gains: What You Should Know
Meta Platforms (META - Free Report) ended the recent trading session at $628.24, demonstrating a +2.58% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.62%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.83%.
Shares of the social media company have depreciated by 6.48% over the course of the past month, underperforming the Computer and Technology sector's gain of 2.41%, and the S&P 500's gain of 0.8%.
The investment community will be paying close attention to the earnings performance of Meta Platforms in its upcoming release. The company's upcoming EPS is projected at $6.69, signifying a 4.04% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $55.34 billion, indicating a 30.78% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $29.82 per share and revenue of $249.12 billion, which would represent changes of +26.95% and +23.96%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Meta Platforms. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. Right now, Meta Platforms possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Meta Platforms is currently exchanging hands at a Forward P/E ratio of 20.54. This represents a premium compared to its industry average Forward P/E of 18.39.
It is also worth noting that META currently has a PEG ratio of 0.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry had an average PEG ratio of 1.03 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 141, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow META in the coming trading sessions, be sure to utilize Zacks.com.