From Nasdaq: 2024-05-30 17:45:12

Meta Platforms (META) closed at $467.05, down -1.54% from the previous day, underperforming the S&P 500, which fell 0.6%. Over the last month, META shares rose by 8.01%, outpacing the sector and S&P 500 gains. The upcoming earnings report projects EPS of $4.67 and revenue of $38.15 billion year-over-year.

Analysts expect Meta Platforms to show a 44.58% increase in EPS and a 19.22% rise in revenue compared to the same period last year. Recent estimate revisions suggest positive trends for the company’s outlook. The Zacks Rank system, currently rating META as a #3 (Hold), has historically influenced stock prices and offers a useful rating model.

Meta Platforms trades at a Forward P/E ratio of 23.49, lower than the industry average of 29.28. Its PEG ratio of 1.23 also indicates potential as the industry’s average PEG ratio was 1.7. Holding a Zacks Industry Rank of 61 in the Internet – Software industry, META is in the top quarter of all sectors for potential growth and performance.

The Research Chief has identified the “Single Best Pick to Double” with a potential +100% upside. This company targets younger audiences and generated nearly $1 billion in revenue last quarter. With an already strong track record of stock recommendations, this new pick has the potential to outperform previous selections by wide margins.



Read more at Nasdaq: Meta Platforms (META) Registers a Bigger Fall Than the Market: Important Facts to Note