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Meta Platforms (META) Stock Falls Amid Market Uptick: What Investors Need to Know
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Meta Platforms (META - Free Report) closed the latest trading day at $381.78, indicating a -0.44% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Prior to today's trading, shares of the social media company had gained 8.51% over the past month. This has outpaced the Computer and Technology sector's gain of 3.64% and the S&P 500's gain of 1.61% in that time.
Investors will be eagerly watching for the performance of Meta Platforms in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 1, 2024. The company's upcoming EPS is projected at $4.80, signifying a 60% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $38.82 billion, reflecting a 20.68% rise from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Meta Platforms. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. The Zacks Consensus EPS estimate has moved 0.43% higher within the past month. Meta Platforms is currently a Zacks Rank #2 (Buy).
In terms of valuation, Meta Platforms is currently trading at a Forward P/E ratio of 21.73. This indicates a discount in contrast to its industry's Forward P/E of 34.11.
We can additionally observe that META currently boasts a PEG ratio of 1.03. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. META's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 58, placing it within the top 24% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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) Stock Falls Amid Market Uptick: What Investors Need to Know
Meta Platforms (META - Free Report) closed the latest trading day at $381.78, indicating a -0.44% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Prior to today's trading, shares of the social media company had gained 8.51% over the past month. This has outpaced the Computer and Technology sector's gain of 3.64% and the S&P 500's gain of 1.61% in that time.
Investors will be eagerly watching for the performance of Meta Platforms in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 1, 2024. The company's upcoming EPS is projected at $4.80, signifying a 60% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $38.82 billion, reflecting a 20.68% rise from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Meta Platforms. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. The Zacks Consensus EPS estimate has moved 0.43% higher within the past month. Meta Platforms is currently a Zacks Rank #2 (Buy).
In terms of valuation, Meta Platforms is currently trading at a Forward P/E ratio of 21.73. This indicates a discount in contrast to its industry's Forward P/E of 34.11.
We can additionally observe that META currently boasts a PEG ratio of 1.03. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. META's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 58, placing it within the top 24% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.