Are You Looking to Buy Meta Platforms Stock in 2024? Here Are the 2 Best Statistics to Know.
Despite the stock's latest 10% dip, Meta Platforms (NASDAQ: META) reported another superb quarter. Revenue rose 27%, demonstrating an ongoing ad market recovery. Diluted earnings per share surged 114%, indicating just how profitable this company is and how well its push for efficiency is going.
This unstoppable social media stock currently trades at a forward P/E ratio of 22. This might encourage you to want to buy shares. If so, it's best to pay attention to these two important statistics.
The first metric investors need to know is that Meta currently has 3.2 billion daily active users across its apps, which include Facebook, Instagram, WhatsApp, and Messenger. This figure was up 7% year over year. And it represented a sizable 108% gain from five years ago. Even though 40% of the world's 8.1 billion people interact with a Meta service every 24 hours, there appears to still be growth potential.
Source Fool.com
Meta Platforms Inc. Stock
With 12 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 500 € there is a slightly positive potential of 14.65% for Meta Platforms Inc. compared to the current price of 436.1 €.
