Meta Platforms: Is It Too Late to Buy the Stock After This Year's 40% Rally?
Investing.com | Mar 12, 2024 23:14
- Meta Platforms' stock rose nearly 40% YTD, buoyed by impressive Q4 results, optimistic guidance, $50 billion share buyback, and a new dividend.
- Analysts increased EPS estimates for the next quarter by 74.9%, signaling high expectations.
- However, Fair Value estimates suggest the stock is slightly overpriced.
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Meta Platforms (NASDAQ:META) stock soared by over nearly 40% since the beginning of the year, boosted by strong Q4 earnings results in February, better-than-expected guidance for Q1/24, alongside the announcement of an additional $50 billion in share repurchases, and the introduction of its first-ever dividend.
The rally comes on top of last year's 194% gain - mostly thanks to ongoing strength in AI-driven digital advertising and increased operational efficiency, which helped the giant consistently outperform EPS and revenue forecasts over the past four quarters.
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