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Alphabet Inc. (GOOG) Gains But Lags Market: What You Should Know
In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $2,398.69, marking a +0.73% move from the previous day. The stock lagged the S&P 500's daily gain of 0.74%.
Heading into today, shares of the company had gained 5.12% over the past month, outpacing the Computer and Technology sector's gain of 3.03% and the S&P 500's gain of 3.21% in that time.
In that report, analysts expect GOOG to post earnings of $19.34 per share. This would mark year-over-year growth of 90.92%. Our most recent consensus estimate is calling for quarterly revenue of $46.17 billion, up 46.08% from the year-ago period.
GOOG's full-year Zacks Consensus Estimates are calling for earnings of $87.91 per share and revenue of $194.39 billion. These results would represent year-over-year changes of +49.99% and +29.81%, respectively.
Investors might also notice recent changes to analyst estimates for GOOG. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 26.9% higher within the past month. GOOG is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note GOOG's current valuation metrics, including its Forward P/E ratio of 27.09. This represents a discount compared to its industry's average Forward P/E of 27.4.
We can also see that GOOG currently has a PEG ratio of 1.49. 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 industry currently had an average PEG ratio of 1.49 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.