In the latest close session, Alphabet Inc. (GOOG) was up +2.52% at $322.47. The stock's performance was ahead of the S&P 500's daily loss of 0.34%. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, added 0.16%.
Coming into today, shares of the company had lost 1.01% in the past month. In that same time, the Computer and Technology sector lost 1%, while the S&P 500 gained 1.19%.
Investors will be eagerly watching for the performance of Alphabet Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.59, signifying a 20.47% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue 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 0%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Alphabet Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.39% rise in the Zacks Consensus EPS estimate. As of now, Alphabet Inc. holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Alphabet Inc. is currently exchanging hands at a Forward P/E ratio of 28.49. This expresses a premium compared to the average Forward P/E of 17.8 of its industry.
It's also important to note that GOOG currently trades at a PEG ratio of 1.74. 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. GOOG's industry had an average PEG ratio of 1.71 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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