In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $92.16, marking a -0.69% move from the previous day. This move lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the company had gained 4.09% over the past month. This has outpaced the Computer and Technology sector's gain of 3.75% and the S&P 500's gain of 4.01% in that time.
Alphabet Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. The company is expected to report EPS of $1.20, down 21.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $63.22 billion, up 2.14% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Alphabet Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.39% lower. Alphabet Inc. is currently a Zacks Rank #4 (Sell).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 18.35. This valuation marks a discount compared to its industry's average Forward P/E of 24.39.
It is also worth noting that GOOG currently has a PEG ratio of 1.63. 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 Internet - Services was holding an average PEG ratio of 1.7 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $92.16, marking a -0.69% move from the previous day. This move lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the company had gained 4.09% over the past month. This has outpaced the Computer and Technology sector's gain of 3.75% and the S&P 500's gain of 4.01% in that time.
Alphabet Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. The company is expected to report EPS of $1.20, down 21.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $63.22 billion, up 2.14% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Alphabet Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.39% lower. Alphabet Inc. is currently a Zacks Rank #4 (Sell).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 18.35. This valuation marks a discount compared to its industry's average Forward P/E of 24.39.
It is also worth noting that GOOG currently has a PEG ratio of 1.63. 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 Internet - Services was holding an average PEG ratio of 1.7 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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