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Meta Platforms (META) Gains As Market Dips: What You Should Know
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In the latest market close, Meta Platforms (META - Free Report) reached $324, with a +0.89% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.01%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the social media company had gained 6.15% over the past month, outpacing the Computer and Technology sector's loss of 0.05% and the S&P 500's loss of 1.6% in that time.
The upcoming earnings release of Meta Platforms will be of great interest to investors. The company's earnings report is expected on October 25, 2023. The company is predicted to post an EPS of $3.57, indicating a 117.68% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $33.43 billion, indicating a 20.62% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.39 per share and a revenue of $132.79 billion, indicating changes of +36.22% and +13.87%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Meta Platforms. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.23% higher. Meta Platforms presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Meta Platforms is at present trading with a Forward P/E ratio of 23.99. This expresses a discount compared to the average Forward P/E of 36.85 of its industry.
It's also important to note that META currently trades at a PEG ratio of 1.12. 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 industry currently had an average PEG ratio of 1.52 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Meta Platforms (META) Gains As Market Dips: What You Should Know
In the latest market close, Meta Platforms (META - Free Report) reached $324, with a +0.89% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.01%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the social media company had gained 6.15% over the past month, outpacing the Computer and Technology sector's loss of 0.05% and the S&P 500's loss of 1.6% in that time.
The upcoming earnings release of Meta Platforms will be of great interest to investors. The company's earnings report is expected on October 25, 2023. The company is predicted to post an EPS of $3.57, indicating a 117.68% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $33.43 billion, indicating a 20.62% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $13.39 per share and a revenue of $132.79 billion, indicating changes of +36.22% and +13.87%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Meta Platforms. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.23% higher. Meta Platforms presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Meta Platforms is at present trading with a Forward P/E ratio of 23.99. This expresses a discount compared to the average Forward P/E of 36.85 of its industry.
It's also important to note that META currently trades at a PEG ratio of 1.12. 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 industry currently had an average PEG ratio of 1.52 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.