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Alphabet Inc. (GOOG) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $133.20, marking a -0.57% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Prior to today's trading, shares of the company had lost 1.77% over the past month. This has lagged the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 6.94% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Alphabet Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.60, signifying a 52.38% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $70.64 billion, indicating a 11.9% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.75 per share and a revenue of $254.8 billion, demonstrating changes of +26.1% and +8.95%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Alphabet Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet Inc. is currently trading at a Forward P/E ratio of 23.28. Its industry sports an average Forward P/E of 26.86, so one might conclude that Alphabet Inc. is trading at a discount comparatively.
We can also see that GOOG currently has a PEG ratio of 1.4. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Services industry currently had an average PEG ratio of 2.36 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank is ordered 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 Inc. (GOOG) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $133.20, marking a -0.57% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Prior to today's trading, shares of the company had lost 1.77% over the past month. This has lagged the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 6.94% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Alphabet Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.60, signifying a 52.38% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $70.64 billion, indicating a 11.9% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.75 per share and a revenue of $254.8 billion, demonstrating changes of +26.1% and +8.95%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Alphabet Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet Inc. is currently trading at a Forward P/E ratio of 23.28. Its industry sports an average Forward P/E of 26.86, so one might conclude that Alphabet Inc. is trading at a discount comparatively.
We can also see that GOOG currently has a PEG ratio of 1.4. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Services industry currently had an average PEG ratio of 2.36 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank is ordered 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.