On April 27, we learned that our Earnings Surprise model correctly predicted Meta’s earnings beat for Q1 of 2023. You can take a look at a summary of what happened in our LinkedIn post from April 28.
To start 2023, Meta Platforms faced significant skepticism. Forbes had reported Meta as the S&P 500’s Worst Performer of 2022 with losses of nearly 75%, and Wall Street Journal included Meta as one of the companies to record their worst years on record, according to Dow Jones Market Data.
In contrast to the common wisdom around the investing community, the Burney Advisor Services (BAS) Earnings Surprise Model indicated a Buy rating for January and February.
The Earnings Surprise Model is one of 4 analytical stock scoring models utilized by BAS to help support advisors with active equity. It identifies companies most likely to report positive and negative quarterly surprises.
BAS-supported advisors were advised to purchase META in their portfolios in January and February of 2023. On 4/26/2023, Meta reported the Beat anticipated by BAS’ Earnings Surprise Model. Meta gained over 13% the day after the release of the earnings report.
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