Alphabet Inc. (GOOG) Stock Moves -0.11%: What You Should Know
Alphabet Inc. (GOOG) closed at $144.08 in the latest trading session, marking a -0.11% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
The company's shares have seen an increase of 5.14% over the last month, surpassing the Computer and Technology sector's gain of 1.22% and the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of Alphabet Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.62, marking a 54.29% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $70.59 billion, showing a 11.83% escalation compared to the year-ago quarter.
Investors should also take note of any recent adjustments to analyst estimates for Alphabet Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 1.28% higher. At present, Alphabet Inc. boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 21.39. This expresses a discount compared to the average Forward P/E of 25.42 of its industry.
Also, we should mention that GOOG has a PEG ratio of 1.29. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 1.93.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 GOOG in the coming trading sessions, be sure to utilize Zacks.com.
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Alphabet Inc. (GOOG) : Free Stock Analysis Report
