Meta Platforms Inc. (META) closed at $488.69 on its latest trading session, reflecting a gain of 0.26% and outperforming the S&P 500, which experienced a 0.16% loss. Over the past month, Meta’s shares have declined by 2.31%, while the Computer and Technology sector gained 0.47% and the S&P 500 rose by 1.96%.
The company is set to announce its earnings on July 31, 2024, forecasting an EPS of $4.69—a 45.2% increase compared to the same quarter last year—and expected revenue of $38.26 billion, marking a 19.58% rise year-over-year. For the full year, Zacks Consensus Estimates predict earnings of $20.23 per share and a total revenue of $159.23 billion, reflecting increases of 36.05% and 18.04% respectively.
Currently, Meta holds a Zacks Rank of #3 (Hold) with a Forward P/E ratio of 24.09, a discount compared to the industry’s average of 30.41. The Internet – Software industry ranks 86 out of over 250 industries, indicating its relative strength in the market.
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