Alphabet Inc. (GOOG) closed the most recent trading day at $315.68, moving +1.4% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.46%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.57%.
Shares of the company witnessed a loss of 2.24% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 4.54%, and the S&P 500's gain of 4.22%.
Analysts and investors alike will be keeping a close eye on the performance of Alphabet Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.59, indicating a 20.47% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $94.6 billion, up 15.91% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.58 per share and a revenue of $340.26 billion, signifying shifts of +31.59% and +15.3%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Alphabet Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. At present, Alphabet Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 29.42 right now. This represents a premium compared to its industry average Forward P/E of 20.08.
We can also see that GOOG currently has a PEG ratio of 1.79. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Internet - Services industry stood at 1.79 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Alphabet Inc. (GOOG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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