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Alphabet Inc. (GOOG) Ascends While Market Falls: Some Facts to Note
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Alphabet Inc. (GOOG - Free Report) closed the most recent trading day at $140.36, moving +0.57% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.18%.
Coming into today, shares of the company had gained 5.42% in the past month. In that same time, the Computer and Technology sector gained 2.11%, while the S&P 500 gained 3.4%.
The investment community will be paying close attention to the earnings performance of Alphabet Inc. in its upcoming release. The company is forecasted to report an EPS of $1.62, showcasing a 54.29% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $70.59 billion, indicating a 11.83% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Alphabet Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Currently, Alphabet Inc. is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 20.69. This expresses a discount compared to the average Forward P/E of 24.03 of its industry.
We can also see that GOOG currently has a PEG ratio of 1.25. 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 Internet - Services was holding an average PEG ratio of 2.04 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Alphabet Inc. (GOOG) Ascends While Market Falls: Some Facts to Note
Alphabet Inc. (GOOG - Free Report) closed the most recent trading day at $140.36, moving +0.57% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.18%.
Coming into today, shares of the company had gained 5.42% in the past month. In that same time, the Computer and Technology sector gained 2.11%, while the S&P 500 gained 3.4%.
The investment community will be paying close attention to the earnings performance of Alphabet Inc. in its upcoming release. The company is forecasted to report an EPS of $1.62, showcasing a 54.29% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $70.59 billion, indicating a 11.83% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Alphabet Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Currently, Alphabet Inc. is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 20.69. This expresses a discount compared to the average Forward P/E of 24.03 of its industry.
We can also see that GOOG currently has a PEG ratio of 1.25. 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 Internet - Services was holding an average PEG ratio of 2.04 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.