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Meta Platforms (META) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Meta Platforms (META - Free Report) closed at $143.14, marking a -0.09% move from the previous day. This move lagged the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.
Heading into today, shares of the social media company had gained 21.37% over the past month, outpacing the Computer and Technology sector's gain of 11.67% and the S&P 500's gain of 4.64% in that time.
Investors will be hoping for strength from Meta Platforms as it approaches its next earnings release, which is expected to be February 1, 2023. The company is expected to report EPS of $2.12, down 42.23% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $31.31 billion, down 7.02% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Meta Platforms. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.82% lower. Meta Platforms is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Meta Platforms currently has a Forward P/E ratio of 18.1. This represents a discount compared to its industry's average Forward P/E of 42.33.
Investors should also note that META has a PEG ratio of 2.22 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 2.24 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Meta Platforms (META) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Meta Platforms (META - Free Report) closed at $143.14, marking a -0.09% move from the previous day. This move lagged the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.
Heading into today, shares of the social media company had gained 21.37% over the past month, outpacing the Computer and Technology sector's gain of 11.67% and the S&P 500's gain of 4.64% in that time.
Investors will be hoping for strength from Meta Platforms as it approaches its next earnings release, which is expected to be February 1, 2023. The company is expected to report EPS of $2.12, down 42.23% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $31.31 billion, down 7.02% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Meta Platforms. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.82% lower. Meta Platforms is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Meta Platforms currently has a Forward P/E ratio of 18.1. This represents a discount compared to its industry's average Forward P/E of 42.33.
Investors should also note that META has a PEG ratio of 2.22 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 2.24 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.