The most recent trading session ended with Meta Platforms (META) standing at $668.20, reflecting a +1.51% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 1.59% for the day. At the same time, the Dow added 1.39%, and the tech-heavy Nasdaq gained 1.63%.

Shares of the social media company have depreciated by 4.19% over the course of the past month, underperforming the Computer and Technology sector's loss of 3.43% and the S&P 500's loss of 2.42%.

Market participants will be closely following the financial results of Meta Platforms in its upcoming release. In that report, analysts expect Meta Platforms to post earnings of $5.60 per share. This would mark year-over-year growth of 18.9%. Our most recent consensus estimate is calling for quarterly revenue of $41.43 billion, up 13.64% from the year-ago period.

META's full-year Zacks Consensus Estimates are calling for earnings of $26.70 per share and revenue of $188.8 billion. These results would represent year-over-year changes of +11.9% and +14.77%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Meta Platforms. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, 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, there's been a 4.96% rise in the Zacks Consensus EPS estimate. As of now, Meta Platforms holds a Zacks Rank of #3 (Hold).

In terms of valuation, Meta Platforms is currently trading at a Forward P/E ratio of 24.66. This indicates a discount in contrast to its industry's Forward P/E of 27.99.

We can also see that META currently has a PEG ratio of 1.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.11.

The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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Meta Platforms, Inc. (META) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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