Meta Platforms (META) Stock Moves -0.53%: What You Should Know
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Meta Platforms (META) closed at $344.47 in the latest trading session, marking a -0.53% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.8% for the day. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.18%.
The the stock of social media company has risen by 8.8% in the past month, leading the Computer and Technology sector’s gain of 2.11% and the S&P 500’s gain of 3.4%.
The investment community will be paying close attention to the earnings performance of Meta Platforms in its upcoming release. The company is forecasted to report an EPS of $4.77, showcasing a 59% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $38.69 billion, up 20.28% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Meta Platforms. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there’s been no change in the Zacks Consensus EPS estimate. Meta Platforms is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Meta Platforms has a Forward P/E ratio of 19.71 right now. This expresses a discount compared to the average Forward P/E of 34.25 of its industry.
Meanwhile, META’s PEG ratio is currently 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. Internet – Software stocks are, on average, holding a PEG ratio of 1.65 based on yesterday’s closing prices.
The Internet – Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 33, positioning it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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