2024-07-26 13:07:34 ET
Summary
- Facebook parent Meta Platforms has seen a 398.6% stock increase since October 2022, outperforming the S&P 500.
- Analysts anticipate revenue growth of 19.6% and earnings per share of $4.74 for Meta Platforms for the second quarter of 2024.
- Despite heavy investments in Reality Labs, Meta Platforms has improved profit margins and increased share buybacks, which has been fuel for its rising share price.
- While shares aren't cheap, they are attractive enough to warrant optimism from here.
With a market capitalization as of this writing of $1.24 trillion, Facebook parent Meta Platforms ( META ) is one of the largest publicly traded companies on the planet. It wasn't so long ago, however, that the company was considerably smaller than this. Back in October of 2022, I ended up rating the company a ‘strong buy’ after the stock had plummeted materially. There were concerns about the business hemorrhaging cash because of its investments in augmented reality. But I ultimately concluded that the picture for shareholders was very favorable....
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Meta Platforms: Still A Compelling Opportunity As Earnings Near