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Meta Platforms (META) Advances While Market Declines: Some Information for Investors
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Meta Platforms (META - Free Report) ended the recent trading session at $600.21, demonstrating a +1.13% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.57% for the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 1.15%.
Coming into today, shares of the social media company had lost 2.9% in the past month. In that same time, the Computer and Technology sector gained 2.85%, while the S&P 500 gained 2.14%.
Investors will be eagerly watching for the performance of Meta Platforms in its upcoming earnings disclosure. The company is predicted to post an EPS of $7.11, indicating a 0.42% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $60.13 billion, indicating a 26.56% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $33.01 per share and a revenue of $253.28 billion, representing changes of +40.53% and +26.03%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Meta Platforms. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.6% downward. Meta Platforms is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Meta Platforms is currently trading at a Forward P/E ratio of 17.98. For comparison, its industry has an average Forward P/E of 18.65, which means Meta Platforms is trading at a discount to the group.
It is also worth noting that META currently has a PEG ratio of 0.93. 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 industry had an average PEG ratio of 1.05 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 93, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Meta Platforms (META) Advances While Market Declines: Some Information for Investors
Meta Platforms (META - Free Report) ended the recent trading session at $600.21, demonstrating a +1.13% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.57% for the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 1.15%.
Coming into today, shares of the social media company had lost 2.9% in the past month. In that same time, the Computer and Technology sector gained 2.85%, while the S&P 500 gained 2.14%.
Investors will be eagerly watching for the performance of Meta Platforms in its upcoming earnings disclosure. The company is predicted to post an EPS of $7.11, indicating a 0.42% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $60.13 billion, indicating a 26.56% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $33.01 per share and a revenue of $253.28 billion, representing changes of +40.53% and +26.03%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Meta Platforms. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.6% downward. Meta Platforms is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Meta Platforms is currently trading at a Forward P/E ratio of 17.98. For comparison, its industry has an average Forward P/E of 18.65, which means Meta Platforms is trading at a discount to the group.
It is also worth noting that META currently has a PEG ratio of 0.93. 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 industry had an average PEG ratio of 1.05 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 93, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.