Alphabet Inc. (GOOG) closed the most recent trading day at $2,513.93, moving -0.27% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.54%.
Prior to today's trading, shares of the company had gained 9.43% over the past month. This has outpaced the Computer and Technology sector's gain of 6.51% and the S&P 500's gain of 1.91% in that time.
Wall Street will be looking for positivity from GOOG as it approaches its next earnings report date. On that day, GOOG is projected to report earnings of $19.63 per share, which would represent year-over-year growth of 93.78%. Our most recent consensus estimate is calling for quarterly revenue of $46.07 billion, up 45.79% from the year-ago period.
GOOG's full-year Zacks Consensus Estimates are calling for earnings of $89.46 per share and revenue of $193.83 billion. These results would represent year-over-year changes of +52.64% and +29.43%, respectively.
Any recent changes to analyst estimates for GOOG should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.77% higher. GOOG is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that GOOG has a Forward P/E ratio of 28.18 right now. Its industry sports an average Forward P/E of 28.48, so we one might conclude that GOOG is trading at a discount comparatively.
Meanwhile, GOOG's PEG ratio is currently 1.55. 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. The Internet - Services was holding an average PEG ratio of 2.03 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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