Meta Platforms (META) Stock Sinks As Market Gains: What You Should Know – Yahoo Finance

Meta Platforms (META) closed the most recent trading day at $132.89, moving -0.08% from the previous trading session. This change lagged the S&P 500's 1.29% gain on the day. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 10.96%.
Coming into today, shares of the social media company had gained 10.69% in the past month. In that same time, the Computer and Technology sector lost 2%, while the S&P 500 lost 0.23%.
Wall Street will be looking for positivity from Meta Platforms as it approaches its next earnings report date. This is expected to be February 1, 2023. The company is expected to report EPS of $2.11, down 42.51% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.18 billion, down 7.39% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Meta Platforms. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.17% higher. Meta Platforms currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Meta Platforms currently has a Forward P/E ratio of 16.67. For comparison, its industry has an average Forward P/E of 40.97, which means Meta Platforms is trading at a discount to the group.
Meanwhile, META's PEG ratio is currently 2.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. META's industry had an average PEG ratio of 2.05 as of yesterday's close.
The Internet – Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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