First-quarter earnings season just kicked off, and several stocks have a track record of surprising investors to the upside. Just under 10% of companies in the S & P 500 have reported their earnings so far, and the period is already off to a good start. Nearly 76% of companies that have reported have beaten earnings expectations, while 59% have come in above analysts' expectations for revenue.
The Instagram parent is slated to next announce its quarterly earnings after Wednesday's stock market close. Traditionally, the company's stock has risen 2.3% on average within a day of its earnings announcement. Shares of Meta have soared 40% so far this year, through Wednesday, after almost tripling in 2023. Earlier this month, JPMorgan and Citi both reiterated Meta as a top stock pick, while Piper Sandler stood by an overweight rating on the stock.