Meta Platforms (META) closed up, outperforming S&P 500, with positive estimate revisions and growth potential.

From Nasdaq: 2024-09-23 17:45:20

In the latest market close, Meta Platforms (META) closed at $564.41, up +0.55% from the day before, outperforming the S&P 500. Analysts forecast an EPS of $5.15 and revenue of $40.08 billion for the upcoming earnings report. The Zacks Rank system rates META at #3 (Hold), with positive estimate revisions driving optimism.

Additionally, META is trading at a Forward P/E ratio of 26.28, below the industry average of 31.32. The stock has a PEG ratio of 1.38, indicating growth potential. The Internet – Software industry, where META belongs, has a Zacks Industry Rank of 75, among the top 30% of industries. Stay tuned to Zacks.com for updates on these metrics.

Zacks has identified a top semiconductor stock poised for growth amid increasing demand for AI, ML, and IoT technologies. Semiconductor industry revenue is projected to reach $803 billion by 2028. With strong earnings and expanding customer base, this stock has significant growth potential. Find out more about this top chip stock for free on Zacks.com.



Read more at Nasdaq: Meta Platforms (META) Exceeds Market Returns: Some Facts to Consider