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Alphabet (GOOGL) Dips More Than Broader Markets: What You Should Know
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Alphabet (GOOGL - Free Report) closed the most recent trading day at $91.29, moving -0.9% from the previous trading session. This change lagged the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the internet search leader had gained 4.16% 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.
Wall Street will be looking for positivity from Alphabet as it approaches its next earnings report date. This is expected to be February 2, 2023. In that report, analysts expect Alphabet to post earnings of $1.17 per share. This would mark a year-over-year decline of 23.53%. Our most recent consensus estimate is calling for quarterly revenue of $63.22 billion, up 2.14% from the year-ago period.
Any recent changes to analyst estimates for Alphabet should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.79% lower. Alphabet is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Alphabet's current valuation metrics, including its Forward P/E ratio of 18.29. For comparison, its industry has an average Forward P/E of 24.39, which means Alphabet is trading at a discount to the group.
We can also see that GOOGL currently has a PEG ratio of 1.62. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. 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.
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Alphabet (GOOGL) Dips More Than Broader Markets: What You Should Know
Alphabet (GOOGL - Free Report) closed the most recent trading day at $91.29, moving -0.9% from the previous trading session. This change lagged the S&P 500's 0.2% loss on the day. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the internet search leader had gained 4.16% 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.
Wall Street will be looking for positivity from Alphabet as it approaches its next earnings report date. This is expected to be February 2, 2023. In that report, analysts expect Alphabet to post earnings of $1.17 per share. This would mark a year-over-year decline of 23.53%. Our most recent consensus estimate is calling for quarterly revenue of $63.22 billion, up 2.14% from the year-ago period.
Any recent changes to analyst estimates for Alphabet should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.79% lower. Alphabet is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Alphabet's current valuation metrics, including its Forward P/E ratio of 18.29. For comparison, its industry has an average Forward P/E of 24.39, which means Alphabet is trading at a discount to the group.
We can also see that GOOGL currently has a PEG ratio of 1.62. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. 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.