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Alphabet Inc. (GOOG) Gains As Market Dips: What You Should Know
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Alphabet Inc. (GOOG - Free Report) closed at $89.70 in the latest trading session, marking a +1.09% move from the prior day. This move outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Coming into today, shares of the company had lost 11.16% in the past month. In that same time, the Computer and Technology sector lost 8.46%, while the S&P 500 lost 5.57%.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. On that day, Alphabet Inc. is projected to report earnings of $1.20 per share, which would represent a year-over-year decline of 21.57%. Meanwhile, our latest consensus estimate is calling for revenue of $63.23 billion, up 2.15% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Alphabet Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 remained stagnant. Alphabet Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 18.96. This represents a discount compared to its industry's average Forward P/E of 19.87.
It is also worth noting that GOOG currently has a PEG ratio of 1.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. GOOG's industry had an average PEG ratio of 1.68 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow GOOG in the coming trading sessions, be sure to utilize Zacks.com.
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Alphabet Inc. (GOOG) Gains As Market Dips: What You Should Know
Alphabet Inc. (GOOG - Free Report) closed at $89.70 in the latest trading session, marking a +1.09% move from the prior day. This move outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Coming into today, shares of the company had lost 11.16% in the past month. In that same time, the Computer and Technology sector lost 8.46%, while the S&P 500 lost 5.57%.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. On that day, Alphabet Inc. is projected to report earnings of $1.20 per share, which would represent a year-over-year decline of 21.57%. Meanwhile, our latest consensus estimate is calling for revenue of $63.23 billion, up 2.15% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Alphabet Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 remained stagnant. Alphabet Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 18.96. This represents a discount compared to its industry's average Forward P/E of 19.87.
It is also worth noting that GOOG currently has a PEG ratio of 1.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. GOOG's industry had an average PEG ratio of 1.68 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow GOOG in the coming trading sessions, be sure to utilize Zacks.com.