Is It Too Late to Buy Meta Platforms Stock?
Meta Platforms (NASDAQ: META) investors have witnessed a terrific turnaround in the stock's fortunes on the market in 2023 following last year's disappointing performance when it lost 64% of its value thanks to a slowdown in digital ad spending.
Shares of the social media giant are up nearly 160% so far this year, and investors who have missed this eye-popping rally may now be wondering if it is too late to buy the stock. After all, Meta stock is now trading at 38 times trailing earnings, which is well above its five-year average price-to-earnings (P/E) ratio of 25.
Does it make sense to buy Meta at its current valuation? Let's find out.
Source Fool.com
Meta Platforms Inc. Stock
€429.00
2.510%
With 9 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 16.55% for Meta Platforms Inc. compared to the current price of 429.0 €.
