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Alphabet Inc. (GOOG) Rises As Market Takes a Dip: Key Facts
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In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $139.66, marking a +1.13% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.47%. Meanwhile, the Dow experienced a drop of 1.27%, and the technology-dominated Nasdaq saw a decrease of 1.5%.
The company's shares have seen a decrease of 0.38% over the last month, not keeping up with the Computer and Technology sector's gain of 4.98% and the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Alphabet Inc. in its upcoming release. On that day, Alphabet Inc. is projected to report earnings of $1.60 per share, which would represent year-over-year growth of 52.38%. Meanwhile, our latest consensus estimate is calling for revenue of $70.64 billion, up 11.9% from the prior-year quarter.
GOOG's full-year Zacks Consensus Estimates are calling for earnings of $5.75 per share and revenue of $254.8 billion. These results would represent year-over-year changes of +26.1% and +8.95%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Alphabet Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Alphabet Inc. is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Alphabet Inc. is currently being traded at a Forward P/E ratio of 24. This valuation marks a discount compared to its industry's average Forward P/E of 27.59.
One should further note that GOOG currently holds a PEG ratio of 1.45. 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 average PEG ratio for the Internet - Services industry stood at 2.45 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 34, finds itself in the top 14% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Alphabet Inc. (GOOG) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $139.66, marking a +1.13% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.47%. Meanwhile, the Dow experienced a drop of 1.27%, and the technology-dominated Nasdaq saw a decrease of 1.5%.
The company's shares have seen a decrease of 0.38% over the last month, not keeping up with the Computer and Technology sector's gain of 4.98% and the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Alphabet Inc. in its upcoming release. On that day, Alphabet Inc. is projected to report earnings of $1.60 per share, which would represent year-over-year growth of 52.38%. Meanwhile, our latest consensus estimate is calling for revenue of $70.64 billion, up 11.9% from the prior-year quarter.
GOOG's full-year Zacks Consensus Estimates are calling for earnings of $5.75 per share and revenue of $254.8 billion. These results would represent year-over-year changes of +26.1% and +8.95%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Alphabet Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Alphabet Inc. is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Alphabet Inc. is currently being traded at a Forward P/E ratio of 24. This valuation marks a discount compared to its industry's average Forward P/E of 27.59.
One should further note that GOOG currently holds a PEG ratio of 1.45. 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 average PEG ratio for the Internet - Services industry stood at 2.45 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 34, finds itself in the top 14% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.