Meta Platforms (META) stock rose 0.28%, outperforming Nasdaq, with positive earnings and revenue projections

From Barchart: 2024-08-29 17:45:12

Meta Platforms (META) closed at $518.22, up 0.28% from the previous day, outperforming Nasdaq. Shares rose by 8.83% in the past month. Earnings projections for EPS are $5.14 and revenue at $40.08 billion, representing 17.08% and 17.38% growth, respectively.

Investors should monitor Meta Platforms for any changes in analyst estimates, as positive revisions are linked to stock price momentum. The Zacks Rank places the company at #3 (Hold), with a 5.15% increase in EPS estimate over the past month. Stay updated with Zacks.com for further insights.

Valuation metrics show Meta Platforms has a Forward P/E ratio of 24.26, a discount to its industry’s 30. PEG ratio stands at 1.28, below the industry average of 1.91. The Internet – Software industry is ranked 97 out of 250+ industries, indicating a strong placement in the top 39%.

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Read more at Barchart: Meta Platforms (META) Stock Moves 0.28%: What You Should Know