Alphabet Inc. (GOOG - Free Report) closed the most recent trading day at $136.64, moving -1.31% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.41% for the day. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.45%.
The company's shares have seen an increase of 5.13% over the last month, not keeping up with the Computer and Technology sector's gain of 5.9% and outstripping the S&P 500's gain of 4.91%.
Market participants will be closely following the financial results of Alphabet Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $1.60, reflecting a 52.38% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $70.64 billion, indicating a 11.9% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.75 per share and revenue of $254.8 billion, which would represent changes of +26.1% and +8.95%, respectively, from the prior year.
Any recent changes to analyst estimates for Alphabet Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-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. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% upward. As of now, Alphabet Inc. holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 24.07 right now. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 24.07.
Investors should also note that GOOG has a PEG ratio of 1.45 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. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.22.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.
To follow GOOG in the coming trading sessions, be sure to utilize Zacks.com.
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Alphabet Inc. (GOOG - Free Report) closed the most recent trading day at $136.64, moving -1.31% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.41% for the day. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.45%.
The company's shares have seen an increase of 5.13% over the last month, not keeping up with the Computer and Technology sector's gain of 5.9% and outstripping the S&P 500's gain of 4.91%.
Market participants will be closely following the financial results of Alphabet Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $1.60, reflecting a 52.38% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $70.64 billion, indicating a 11.9% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.75 per share and revenue of $254.8 billion, which would represent changes of +26.1% and +8.95%, respectively, from the prior year.
Any recent changes to analyst estimates for Alphabet Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-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. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% upward. As of now, Alphabet Inc. holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 24.07 right now. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 24.07.
Investors should also note that GOOG has a PEG ratio of 1.45 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. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.22.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.
To follow GOOG in the coming trading sessions, be sure to utilize Zacks.com.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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