As first quarter earnings season rolls on, analysts are upping their forecasts on a collection of names set to report next week. More than 35 S & P 500 companies reported quarterly results this week, including streaming giant Netflix as well as credit card firm American Express on Thursday and Friday. Overall, stocks are heading for a losing week, with the S & P 500 falling on Friday for a sixth straight day. The earnings season has also been mixed.
Pro screened FactSet data for S & P 500 companies reporting next week that met the following criteria: Earnings per share estimates up 10% in past three and six months Average analyst price target up 10% or more in past three and six months Meta Platforms made the list. Shares have surged more than 40% in 2024. Analysts are also upping their forecasts ahead of the company's first-quarter results on April 24.
mountain Meta Platforms stock. Part of Meta's underlying strength in 2024 can be attributed to higher revenue from advertising on Instagram, which helped profits rise 25% in the fourth-quarter . Investors have also cheered the company's AI push. Meta said on Thursday its artificial intelligence assistant, Meta AI, would be integrated into WhatsApp, Instagram, Facebook and Messenger.
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