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Bull of the Day: Alphabet (GOOG)

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Sometimes the Bull of the Day is a stock that’s off the beaten path. It’s a small, up-and-coming name that many folks weren’t aware of. Today’s Bull is not one of those stocks. Rather, today’s Bull is a huge company that I’m sure you interact with on a daily basis. In fact, you’re probably using one or two of there products right now as you’re reading this. Care to venture a guess? I’m talking about Zacks Rank #1 (Strong Buy) Alphabet (GOOG - Free Report) .

The company formerly known as Google provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure. This segment also offers digital content, cloud services, hardware devices, and other miscellaneous products and services. The Other Bets segment includes businesses, including Access, Calico, CapitalG, GV, Verily, Waymo, and X, as well as Internet and television services.

The reason for the favorable Zacks Rank lies in the series of earnings estimate revisions coming in to the upside recently. Over the last month, analysts have upped their earnings estimates for the current quarter, next quarter and current year. Those bullish moves have pushed up our Zacks Consensus Estimates for the current year from $48.57 to $49.33 while next year’s number has shot up from $54.32 to $56.14.

Even with these bullish moves to the upside, Alphabet has a tendency to surprise analysts with its earnings report. Last quarter, EPS came in at $14.21, far surpassing expectations calling for $11.49. That amounted to a 23.67% surprise. The quarter before that, Alphabet beat by 12.58%. The company’s next report is set to hit the wires after the bell Monday October 28th. Analysts are looking for $12.55 out of the report. That would be a year-over-year EPS contraction of 3.91%.

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