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Alphabet Inc. (GOOG) Stock Falls Amid Market Uptick: What Investors Need to Know
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Alphabet Inc. (GOOG - Free Report) closed the latest trading day at $141.28, indicating a -0.11% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.04%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.03%.
The company's stock has climbed by 3.69% in the past month, falling short of the Computer and Technology sector's gain of 4.9% and the S&P 500's gain of 5.28%.
The upcoming earnings release of Alphabet Inc. will be of great interest to investors. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.83 per share and revenue of $254.75 billion. These totals would mark changes of +27.85% and +8.92%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Alphabet Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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, there's been a 1.44% rise in the Zacks Consensus EPS estimate. At present, Alphabet Inc. boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 24.24. Its industry sports an average Forward P/E of 27.93, so one might conclude that Alphabet Inc. is trading at a discount comparatively.
Investors should also note that GOOG has a PEG ratio of 1.46 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Internet - Services industry stood at 2.44 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Alphabet Inc. (GOOG) Stock Falls Amid Market Uptick: What Investors Need to Know
Alphabet Inc. (GOOG - Free Report) closed the latest trading day at $141.28, indicating a -0.11% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.04%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.03%.
The company's stock has climbed by 3.69% in the past month, falling short of the Computer and Technology sector's gain of 4.9% and the S&P 500's gain of 5.28%.
The upcoming earnings release of Alphabet Inc. will be of great interest to investors. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.83 per share and revenue of $254.75 billion. These totals would mark changes of +27.85% and +8.92%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Alphabet Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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, there's been a 1.44% rise in the Zacks Consensus EPS estimate. At present, Alphabet Inc. boasts a Zacks Rank of #2 (Buy).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 24.24. Its industry sports an average Forward P/E of 27.93, so one might conclude that Alphabet Inc. is trading at a discount comparatively.
Investors should also note that GOOG has a PEG ratio of 1.46 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Internet - Services industry stood at 2.44 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.