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Meta Platforms (META) Gains As Market Dips: What You Should Know
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In the latest trading session, Meta Platforms (META - Free Report) closed at $197.75, marking a +1.92% move from the previous day. This change outpaced the S&P 500's 0.7% loss on the day. At the same time, the Dow lost 0.87%, and the tech-heavy Nasdaq gained 2.77%.
Prior to today's trading, shares of the social media company had gained 8.1% over the past month. This has outpaced the Computer and Technology sector's loss of 2.73% and the S&P 500's loss of 5.06% in that time.
Investors will be hoping for strength from Meta Platforms as it approaches its next earnings release. On that day, Meta Platforms is projected to report earnings of $2.06 per share, which would represent a year-over-year decline of 24.26%. Our most recent consensus estimate is calling for quarterly revenue of $27.48 billion, down 1.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.89 per share and revenue of $122.22 billion, which would represent changes of +0.61% and +4.81%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 2.52% higher. Meta Platforms is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Meta Platforms has a Forward P/E ratio of 19.62 right now. This represents a discount compared to its industry's average Forward P/E of 39.57.
Also, we should mention that META has a PEG ratio of 1.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 1.76 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 62, putting it in the top 25% 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.
To follow META in the coming trading sessions, be sure to utilize Zacks.com.
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Meta Platforms (META) Gains As Market Dips: What You Should Know
In the latest trading session, Meta Platforms (META - Free Report) closed at $197.75, marking a +1.92% move from the previous day. This change outpaced the S&P 500's 0.7% loss on the day. At the same time, the Dow lost 0.87%, and the tech-heavy Nasdaq gained 2.77%.
Prior to today's trading, shares of the social media company had gained 8.1% over the past month. This has outpaced the Computer and Technology sector's loss of 2.73% and the S&P 500's loss of 5.06% in that time.
Investors will be hoping for strength from Meta Platforms as it approaches its next earnings release. On that day, Meta Platforms is projected to report earnings of $2.06 per share, which would represent a year-over-year decline of 24.26%. Our most recent consensus estimate is calling for quarterly revenue of $27.48 billion, down 1.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.89 per share and revenue of $122.22 billion, which would represent changes of +0.61% and +4.81%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 2.52% higher. Meta Platforms is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Meta Platforms has a Forward P/E ratio of 19.62 right now. This represents a discount compared to its industry's average Forward P/E of 39.57.
Also, we should mention that META has a PEG ratio of 1.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 1.76 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 62, putting it in the top 25% 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.
To follow META in the coming trading sessions, be sure to utilize Zacks.com.