We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Alphabet (GOOGL) Stock Declines While Market Improves: Some Information for Investors
Read MoreHide Full Article
In the latest trading session, Alphabet (GOOGL - Free Report) closed at $145.96, marking a -0.29% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.22%. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.32%.
The internet search leader's shares have seen an increase of 3.46% over the last month, not keeping up with the Computer and Technology sector's gain of 3.64% and outstripping the S&P 500's gain of 1.61%.
The investment community will be closely monitoring the performance of Alphabet in its forthcoming earnings report. The company is scheduled to release its earnings on January 30, 2024. The company is expected to report EPS of $1.60, up 52.38% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $70.71 billion, indicating a 12.03% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for Alphabet. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. Alphabet currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet is presently being traded at a Forward P/E ratio of 21.97. This represents a discount compared to its industry's average Forward P/E of 25.98.
We can additionally observe that GOOGL currently boasts a PEG ratio of 1.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Services stocks are, on average, holding a PEG ratio of 1.93 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Alphabet (GOOGL) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Alphabet (GOOGL - Free Report) closed at $145.96, marking a -0.29% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.22%. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.32%.
The internet search leader's shares have seen an increase of 3.46% over the last month, not keeping up with the Computer and Technology sector's gain of 3.64% and outstripping the S&P 500's gain of 1.61%.
The investment community will be closely monitoring the performance of Alphabet in its forthcoming earnings report. The company is scheduled to release its earnings on January 30, 2024. The company is expected to report EPS of $1.60, up 52.38% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $70.71 billion, indicating a 12.03% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for Alphabet. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. Alphabet currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet is presently being traded at a Forward P/E ratio of 21.97. This represents a discount compared to its industry's average Forward P/E of 25.98.
We can additionally observe that GOOGL currently boasts a PEG ratio of 1.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Services stocks are, on average, holding a PEG ratio of 1.93 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.