Meta Platforms (META) upgraded to Buy by Zacks, with rising earnings estimates and positive outlook

From Nasdaq: 2024-12-16 12:00:11

Investors may want to consider investing in Meta Platforms (META) as it has been upgraded to a Zacks Rank #2 (Buy) due to an upward trend in earnings estimates. The Zacks rating system tracks the consensus EPS estimates from analysts, indicating a positive outlook for the company’s earnings. This upgrade suggests a favorable impact on the stock price.

The Zacks rating system emphasizes the importance of a company’s changing earnings picture in determining stock price movements. Institutional investors heavily rely on earnings estimates to calculate fair value, leading to stock price changes based on these estimates. For Meta Platforms, rising earnings estimates and the subsequent rating upgrade reflect an improvement in the company’s business, likely pushing the stock higher.

Meta Platforms is expected to earn $22.68 per share for the fiscal year ending December 2024, representing a 52.5% change from the previous year. Analysts have been consistently increasing their estimates for the company, with a 6.2% increase in the Zacks Consensus Estimate over the past three months. The Zacks rating system maintains an equal proportion of ‘buy’ and ‘sell’ ratings, positioning Meta Platforms in the top 20% of Zacks-covered stocks for superior earnings estimate revisions.

Experts have identified 7 elite stocks, including Meta Platforms, as the best potential investments for the next 30 days. These handpicked stocks have historically outperformed the market with an average annual gain of +24.1% since 1988. Investors are advised to pay immediate attention to these top-rated stocks for potential early price pops. For more stock recommendations and analysis, investors can access the latest insights from Zacks Investment Research.



Read more at Nasdaq: Meta Platforms (META) Upgraded to Buy: What Does It Mean for the Stock?