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Meta Platforms (META) Falls More Steeply Than Broader Market: What Investors Need to Know
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The latest trading session saw Meta Platforms (META - Free Report) ending at $357.43, denoting a -0.34% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.15%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
Prior to today's trading, shares of the social media company had gained 10.26% over the past month. This has outpaced the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 3.5% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Meta Platforms in its upcoming earnings disclosure. The company's earnings report is set to go public on February 1, 2024. The company is expected to report EPS of $4.79, up 59.67% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $38.69 billion, indicating a 20.28% upward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Meta Platforms. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.33% higher. Right now, Meta Platforms possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Meta Platforms has a Forward P/E ratio of 20.35 right now. This indicates a discount in contrast to its industry's Forward P/E of 34.92.
We can also see that META currently has a PEG ratio of 0.95. 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 average PEG ratio for the Internet - Software industry stood at 1.65 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 30, placing it within the top 12% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Meta Platforms (META) Falls More Steeply Than Broader Market: What Investors Need to Know
The latest trading session saw Meta Platforms (META - Free Report) ending at $357.43, denoting a -0.34% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.15%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
Prior to today's trading, shares of the social media company had gained 10.26% over the past month. This has outpaced the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 3.5% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Meta Platforms in its upcoming earnings disclosure. The company's earnings report is set to go public on February 1, 2024. The company is expected to report EPS of $4.79, up 59.67% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $38.69 billion, indicating a 20.28% upward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Meta Platforms. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.33% higher. Right now, Meta Platforms possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Meta Platforms has a Forward P/E ratio of 20.35 right now. This indicates a discount in contrast to its industry's Forward P/E of 34.92.
We can also see that META currently has a PEG ratio of 0.95. 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 average PEG ratio for the Internet - Software industry stood at 1.65 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 30, placing it within the top 12% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.