When investing in stocks, analysts' opinions can steer stocks' direction, especially when earnings are just around the corner. Meta stock is one to watch amid bullish views.
Meta Platforms announces its third-quarter results on Wednesday. The Magnificent Seven leader has had a blockbuster year, gaining 62% year to date as of Friday's closing price. Moreover, Investor's Business Daily's Stock Screener holds the stock in its list of stocks with rising profit estimates. That suggests a longer growth trend may be in place.
Meta stock is just above a buy range from a three-weeks-tight pattern's buy point of 544.23. It is finding support above the 10-week moving average.
The stock holds a near-ideal EPS Rating of 97. After breaking a string of declines, sales and earnings have grown over the past five quarters. EPS surged nearly 80% in Q1 and 53% in Q2, according to FactSet.
For the third quarter, analysts polled by FactSet expect sales to climb 18% to $40.2 billion and earnings to rise 36% to $5.97 per share.
For the full year, they see the growth trend extending, with profits rising 37% this year to $21.37 per share. In 2025, profits are seen rising 14% to $24.46 per share.
Meta Stock Holds Outstanding Ratings
Shares are also near their all-time high of 602.95. Meta stock holds a Composite Rating of 97 while the Relative Strength Rating shows the stock has outperformed 93% of all stocks in the IBD database over the past 52 weeks. Meta stock ranks first in the internet content group, according to IBD Stock Checkup. The group holds 58th place among IBD's 197 industry groups.
Insulet is also on the Rising Profit Estimates screen. It will report its fiscal third quarter results on Nov. 7. Shares are in a flat base with a buy point of 243.98. This is an early stage base, a type that historically results in higher gains.
Insulet makes a wearable device that can provide up to three days of insulin without using a needle. It has a Composite Rating of 97 and EPS Rating of 79. The Relative Strength Rating stands at 90. Insulet also holds first place in the medical products industry group.
Analysts estimate that sales will increase 20% to $518.8 million in the third quarter with 5% growth in earnings to 78 cents per share. For the full year, analysts see profit rising 34% to $3.67 per share. In fiscal 2025, their estimates suggest a 5% increase in profit to $3.87 per share.
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