In the last quarter, the consensus estimate for EPS was $2.12, but Meta Platforms Inc. Also, the expected EPS was $1.96, but the company posted an EPS of $2.64, beating expectations by 34.69%. The last earnings were reported on April 26, 2023, where the reported revenue of $28.645 Billion surpassed the estimated value of $27.669 Billion by 3.53%. Analysts placed a 2.76 rating for moderate buy and estimated a price target at $259.00 with a 10.9% downside. With an average volume of 21.96 Million shares, the market cap is $744.55 Billion. The trailing twelve-month (ttm) price to earnings (P/E) ratio is 35.34, and the (ttm) earnings per share (EPS) is 8.22. If all are in favor, the price might soon make a new high. Previous close and open were at $291.99 and $292.18, respectively. Now, at press time, NASDAQ: META is trading at $290.53 with a slight drop of 0.50%. In June 2023, there were speculations that the META Stock would stabilize around $300. Legal experts hint that one of them might soon file a trademark-infringement case against them. For instance, Cynthia Zordich, the wife of retired NFL player Michael Zordich launched her Thread platform in 2016 to include women in sports. Many established companies use ‘threads’ in their names. Meta also strategically dealt with market competition like TikTok. The company also reduced operating costs and reduced its investment in the metaverse. (NASDAQ: NVDA) saw its market cap reach $1 Trillion for some time. This frenzy caused tech stocks to skyrocket, and Nvidia Corp. This momentum can be attributed to the buzz surrounding artificial intelligence. NASDAQ: META has been performing well its price rallied around 136.55% YTD. Twitter owner Elon Musk might sue Meta for its newest release, arguing it stole the trade secret by employing Twitter ex-employees.
Twitter surpassed a 10 Million user base count in two years. The company’s Threads app launched on July 5, 2023, & the platform already has 30 Million users. Meta Platforms (META Stock) rallied around 125.27% in the last six months and gained nearly 223.5% over the past 52 weeks.
#META STOCK SERIES#
In addition to Facebook, Instagram, Threads and WhatsApp, Meta has also acquired Oculus, Mapillary, CTRL-Labs, Kustomer, and has a 9.99% stake in Jio Platforms the company additionally endeavored into non-VR hardware such as the discontinued Meta Portal smart displays line and presently partners with Luxottica through the Ray-Ban Stories series of smart glasses. It is considered one of the Big Five American information technology companies, alongside Google's parent company Alphabet, Amazon, Apple, and Microsoft.
Meta is one of the world's most valuable companies and among the ten largest publicly traded corporations in the United States.
The company owns and operates Facebook, Instagram, Threads, and WhatsApp, among other products and services. Meta Platforms, Inc., doing business as Meta, and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California.
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