Meta Platforms (META) stock drops slightly despite strong market gains, upcoming earnings show positive outlook.

From Nasdaq: 2024-06-18 17:45:21

Meta Platforms (META) closed at $499.49, a -1.41% change. The stock underperformed S&P 500’s 0.25% gain, while Dow gained 0.15% and Nasdaq 0.03%. META stock has risen 8.06% in the last month, trailing the Computer and Tech sector’s 8.7% gain but surpassing S&P 500’s 3.34% increase.

Meta Platforms upcoming earnings have an estimated EPS of $4.66, a 44.27% rise YoY. Revenue is projected at $38.15B, up 19.22%. Full-year estimates are $20.16 EPS (+35.57%) and $158.97B revenue (+17.84%). Analyst estimates impact stock prices, reflected in META’s Zacks Rank of #3 (Hold).

Trading at a Forward P/E ratio of 25.13, META shows a discount compared to the industry average of 29.7. Its PEG ratio is 1.31, lower than the industry’s 1.7. Internet – Software falls under the Computer and Tech sector, with an industry rank of 73/250, in the top 29%.

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Read more at Nasdaq: Meta Platforms (META) Stock Drops Despite Market Gains: Important Facts to Note