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Google (GOOGL) Adds Coronavirus Tracking Feature to Maps

Keeping pace with efforts to make life easier for users, Alphabet Inc.’s GOOGL division, Google recently added a new feature to Google Maps in order to help users travel safely during the ongoing pandemic by identifying COVID-19 hot zones.

The new feature, COVID-19 layer button menu, is available on the map. This button enables a user to know the spread of the virus in a particular area.

The user will be able to see a seven-day average of new coronavirus cases per 100,000 people for a particular area. In addition, the new Color coding tool will help them distinguish the density of new cases in the selected area.

These results will help them to know whether the cases in the area are increasing or decreasing, allowing them to take proper safety measures.

The recent move comes at an opportune time for Google, when several countries worldwide including the United States are reeling under apprehensions regarding the second wave of COVID-19, which is aggravating the ongoing health crisis.

Moreover, such move is likely to add strength to the company’s business.

Alphabet Inc. Price and Consensus

Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote

Combating Competition

With Google taking interest in the transportation segment, competition has further heated up in this segment. As of now, the case data will be available for 220 supported countries. These data are taken from authoritative sources like Johns Hopkins University, the New York Times and Wikipedia.

This recent move should further cement its dominance in the navigation industry over Apple AAPL and help it to scoop up a higher market share, thereby benefiting the company’s financials.

It will further boost investors’ confidence in the stock, which has outperformed the S&P 500 on a year-to-date basis.

Alphabet’s shares have returned 8.9% in the past 12 months compared with the S&P 500's growth of 2.4%.

Google’s Growing Efforts

Google is leaving no stone unturned to fortify presence on the back of innovative technologies. The company’s innovative efforts to improvise Google Maps will continue to benefit its market share.

Per a recent research report, Google Maps is by far the most popular navigation app. Nearly 70% of smartphone owners use Google Maps most frequently. With the introduction of new and innovative features in the same, it is set to maintain its leading position.

Google Maps, which is immensely popular and widely used all over the world, will enhance the company’s services portfolio owing to the above-mentioned update.

Zacks Rank and Stocks to Consider

Currently, Alphabet carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Dropbox DBX and Etsy, Inc. ETSY, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings growth rate for Dropbox and Etsy is pegged at 34.4% and 28.5%, respectively.

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