Meta Platforms' (NASDAQ: META) stock soared 15% during after-hours trading on Feb. 1 in response to its fourth-quarter earnings report. The social media giant's revenue rose 25% year over year to $40.1 billion and exceeded analysts' estimates by $940 million. Its earnings per share (EPS) jumped 203% to $5.33 and cleared the consensus forecast by $0.39.

To top it all off, Meta initiated its first-ever quarterly dividend of $0.50 per share -- which translates into a forward yield of about 0.4% -- while increasing its stock buyback authorization by $50 billion. Those are all bullish signals, but Meta's shares have already rallied more than 140% over the past 12 months and are currently trading near their all-time high.

Should investors expect Meta's stock to climb even higher through the end of 2024?

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Source Fool.com