Meta Platforms (META) closed at $625.66 in the latest trading session, marking a -0.36% move from the prior day. This change lagged the S&P 500's 0.55% gain on the day. Elsewhere, the Dow saw an upswing of 0.52%, while the tech-heavy Nasdaq appreciated by 0.7%.

Coming into today, shares of the social media company had lost 11.81% in the past month. In that same time, the Computer and Technology sector lost 8.51%, while the S&P 500 lost 5.56%.

Analysts and investors alike will be keeping a close eye on the performance of Meta Platforms in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $5.60, marking a 18.9% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $41.43 billion, showing a 13.64% escalation compared to the year-ago quarter.

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.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Meta Platforms. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.12% upward. Right now, Meta Platforms possesses a Zacks Rank of #3 (Hold).

Looking at its valuation, Meta Platforms is holding a Forward P/E ratio of 23.52. This signifies a discount in comparison to the average Forward P/E of 25.9 for its industry.

It is also worth noting that META currently has a PEG ratio of 1.28. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software was holding an average PEG ratio of 2.11 at yesterday's closing price.

The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.

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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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

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