In the latest trading session, Facebook (FB) closed at $270.97, marking a +0.75% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.71%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 0.95%.Prior to today's trading, shares of the social media company had lost 5.83% over the past month. This has lagged the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 0.17% in that time.Investors will be hoping for strength from FB as it approaches its next earnings release. The company is expected to report EPS of $3.20, up 25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $26.23 billion, up 24.43% from the year-ago period.Investors should also note any recent changes to analyst estimates for FB. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. FB is currently sporting a Zacks Rank of #3 (Hold).Investors should also note FB's current valuation metrics, including its Forward P/E ratio of 25.67. This represents a discount compared to its industry's average Forward P/E of 29.58.It is also worth noting that FB currently has a PEG ratio of 1.39. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Services stocks are, on average, holding a PEG ratio of 1.64 based on yesterday's closing prices.The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 123, putting it in the top 49% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow FB in the coming trading sessions, be sure to utilize Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Facebook, Inc. (FB): Free Stock Analysis Report To read this article on Zacks.com click here.