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Alphabet Inc. (GOOG) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $2,795.73, marking a +0.47% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 4.81%.
Heading into today, shares of the company had lost 2.11% over the past month, outpacing the Computer and Technology sector's loss of 2.99% and lagging the S&P 500's gain of 0.64% in that time.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Alphabet Inc. to post earnings of $26.71 per share. This would mark year-over-year growth of 19.78%. Meanwhile, our latest consensus estimate is calling for revenue of $59.3 billion, up 27.71% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.27% higher. Alphabet Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 24.57 right now. This valuation marks a premium compared to its industry's average Forward P/E of 24.55.
Investors should also note that GOOG has a PEG ratio of 0.95 right now. 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 industry currently had an average PEG ratio of 2.84 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 206, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Alphabet Inc. (GOOG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $2,795.73, marking a +0.47% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 4.81%.
Heading into today, shares of the company had lost 2.11% over the past month, outpacing the Computer and Technology sector's loss of 2.99% and lagging the S&P 500's gain of 0.64% in that time.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Alphabet Inc. to post earnings of $26.71 per share. This would mark year-over-year growth of 19.78%. Meanwhile, our latest consensus estimate is calling for revenue of $59.3 billion, up 27.71% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.27% higher. Alphabet Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 24.57 right now. This valuation marks a premium compared to its industry's average Forward P/E of 24.55.
Investors should also note that GOOG has a PEG ratio of 0.95 right now. 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 industry currently had an average PEG ratio of 2.84 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 206, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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 follow all of these stock-moving metrics, and many more, on Zacks.com.