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Meta Platforms (META) Gains As Market Dips: What You Should Know
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Meta Platforms (META - Free Report) ended the recent trading session at $744.10, demonstrating a +1.02% change from the preceding day's closing price. This change outpaced the S&P 500's 0.76% loss on the day. Meanwhile, the Dow experienced a drop of 0.68%, and the technology-dominated Nasdaq saw a decrease of 1.13%.
The social media company's stock has climbed by 29.22% in the past month, exceeding the Computer and Technology sector's gain of 6.68% and the S&P 500's gain of 1.26%.
The investment community will be closely monitoring the performance of Meta Platforms in its forthcoming earnings report. It is anticipated that the company will report an EPS of $6.39, marking a 11.86% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $63.18 billion, indicating a 23.29% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $31.38 per share and a revenue of $254.02 billion, signifying shifts of +33.59% and +26.4%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Meta Platforms. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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.
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. Within the past 30 days, our consensus EPS projection has moved 2% lower. Meta Platforms is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Meta Platforms has a Forward P/E ratio of 23.47 right now. This indicates a premium in contrast to its industry's Forward P/E of 20.16.
It is also worth noting that META currently has a PEG ratio of 1.14. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.14.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Meta Platforms (META) Gains As Market Dips: What You Should Know
Meta Platforms (META - Free Report) ended the recent trading session at $744.10, demonstrating a +1.02% change from the preceding day's closing price. This change outpaced the S&P 500's 0.76% loss on the day. Meanwhile, the Dow experienced a drop of 0.68%, and the technology-dominated Nasdaq saw a decrease of 1.13%.
The social media company's stock has climbed by 29.22% in the past month, exceeding the Computer and Technology sector's gain of 6.68% and the S&P 500's gain of 1.26%.
The investment community will be closely monitoring the performance of Meta Platforms in its forthcoming earnings report. It is anticipated that the company will report an EPS of $6.39, marking a 11.86% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $63.18 billion, indicating a 23.29% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $31.38 per share and a revenue of $254.02 billion, signifying shifts of +33.59% and +26.4%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Meta Platforms. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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.
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. Within the past 30 days, our consensus EPS projection has moved 2% lower. Meta Platforms is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Meta Platforms has a Forward P/E ratio of 23.47 right now. This indicates a premium in contrast to its industry's Forward P/E of 20.16.
It is also worth noting that META currently has a PEG ratio of 1.14. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.14.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.