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- 1 Meta stock has experienced bullish sentiments in its all-time price performance.
- 2 The stock follows an upward trend with the strong bull’s dominance in it.
Meta Platforms Inc. (NASDAQ: META) stock is recording a rise in investor confidence. The stock price is in the overbought zone. The upsurge took the stock price to mark its 52-week high in its recent trading session on June 2nd, Friday. However, at the time of closing, the stock price noted little showed decline.
Meta Stock Price Analysis
According to Tradingview, in the Friday trading session, Meta stock closed at the price of $272.61, the opening price was $272.66. The stock clocked a high of $275.35 which was also its 52-week high. The low was $271.12. As the closing price of the stock experienced little drop, then on Monday morning, a little fluctuation in price can be seen.
As shown in the above chart, the tech stock started climbing the upside track that led the price to over the 20-day moving average. When the company released its earnings and revenue report, its price was above the 20-day EMA mark. The RSI is resting in the overbought zone. Meanwhile, the previous day’s stock price performance showed the power of the bulls. In one month, price surged by more than 13%. The year-to-date (YTD) price surge is over 120%.
The price target that the analysts have set is at $274.34 that is just 0.64% up from the recent closing price. The one year forecast that the tech company have the maximum estimate at $350.00, while the min estimate is at $100.00.
The market cap of Meta Platforms, Inc is nearly $698.74 Billion, the total revenue of the company for Q1 2023 is $28.64 Billion, and it’s 10.94% lower compared to the previous quarter. The net income of Q1 23 is $5.71 Billion. Its price-to-sales ratio is 6.03.
EPS for the first quarter is at $2.20 which is 8.86% higher than $2.02. The revenue for the same period amounted to $28.64 Billion while the estimated figure was $27.67 Billion. Moreover, the estimated EPS for the next quarter are $2.86, and revenue is expected to reach $30.84 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
