Meta Platforms (META) closed the latest trading day at $603.35, indicating a -0.72% change from the previous session’s end. This move lagged the S&P 500’s daily loss of 0.04%. Elsewhere, the Dow saw an upswing of 0.07%, while the tech-heavy Nasdaq depreciated by 0.05%.

Shares of the social media company have appreciated by 6.77% over the course of the past month, outperforming the Computer and Technology sector’s gain of 5.93% and the S&P 500’s gain of 1.05%.

Investors will be eagerly watching for the performance of Meta Platforms in its upcoming earnings disclosure. The company is forecasted to report an EPS of $6.76, showcasing a 26.83% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $46.98 billion, up 17.13% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $22.68 per share and revenue of $163.09 billion. These totals would mark changes of +52.52% and +20.9%, respectively, from last year.

Any recent changes to analyst estimates for Meta Platforms should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Meta Platforms holds a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Meta Platforms has a Forward P/E ratio of 26.79 right now. This represents a discount compared to its industry’s average Forward P/E of 33.27.

Investors should also note that META has a PEG ratio of 1.34 right now. 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. The average PEG ratio for the Internet – Software industry stood at 2.4 at the close of the market yesterday.