The most recent trading session ended with Meta Platforms (META) standing at $626.31, reflecting a +1.21% shift from the previouse trading day’s closing. The stock outpaced the S&P 500’s daily gain of 0.16%. Elsewhere, the Dow saw an upswing of 0.01%, while the tech-heavy Nasdaq appreciated by 0.46%.

Heading into today, shares of the social media company had lost 7.38% over the past month, lagging the Computer and Technology sector’s loss of 5.94% and the S&P 500’s loss of 3.59% in that time.

The upcoming earnings release of Meta Platforms will be of great interest to investors. On that day, Meta Platforms is projected to report earnings of $5.33 per share, which would represent year-over-year growth of 13.16%. Simultaneously, our latest consensus estimate expects the revenue to be $41.43 billion, showing a 13.64% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $25.61 per share and revenue of $188.8 billion, indicating changes of +7.33% and +14.77%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Meta Platforms should also be noted by investors. 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.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Meta Platforms is holding a Zacks Rank of #3 (Hold) right now.

Looking at valuation, Meta Platforms is presently trading at a Forward P/E ratio of 24.16. This indicates a discount in contrast to its industry’s Forward P/E of 28.29.

It is also worth noting that META currently has a PEG ratio of 1.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. By the end of yesterday’s trading, the Internet – Software industry had an average PEG ratio of 2.07.

The Internet – Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 128, positioning it in the top 50% of all 250+ industries.