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Alphabet (GOOGL) Increases Despite Market Slip: Here's What You Need to Know
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In the latest close session, Alphabet (GOOGL - Free Report) was up +1.24% at $335.97. The stock's performance was ahead of the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw a downswing of 0.8%, while the tech-heavy Nasdaq depreciated by 0.1%.
The stock of internet search leader has risen by 7.67% in the past month, leading the Computer and Technology sector's gain of 2.62% and the S&P 500's gain of 2.26%.
Investors will be eagerly watching for the performance of Alphabet in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.59, signifying a 20.47% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $94.6 billion, up 15.91% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.58 per share and revenue of $340.26 billion, indicating changes of +31.59% and 0%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Alphabet. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% increase. Right now, Alphabet possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet is currently trading at a Forward P/E ratio of 30.06. Its industry sports an average Forward P/E of 18.26, so one might conclude that Alphabet is trading at a premium comparatively.
It is also worth noting that GOOGL currently has a PEG ratio of 1.83. 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. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.78.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow GOOGL in the coming trading sessions, be sure to utilize Zacks.com.
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Alphabet (GOOGL) Increases Despite Market Slip: Here's What You Need to Know
In the latest close session, Alphabet (GOOGL - Free Report) was up +1.24% at $335.97. The stock's performance was ahead of the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw a downswing of 0.8%, while the tech-heavy Nasdaq depreciated by 0.1%.
The stock of internet search leader has risen by 7.67% in the past month, leading the Computer and Technology sector's gain of 2.62% and the S&P 500's gain of 2.26%.
Investors will be eagerly watching for the performance of Alphabet in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.59, signifying a 20.47% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $94.6 billion, up 15.91% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.58 per share and revenue of $340.26 billion, indicating changes of +31.59% and 0%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Alphabet. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% increase. Right now, Alphabet possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet is currently trading at a Forward P/E ratio of 30.06. Its industry sports an average Forward P/E of 18.26, so one might conclude that Alphabet is trading at a premium comparatively.
It is also worth noting that GOOGL currently has a PEG ratio of 1.83. 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. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.78.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow GOOGL in the coming trading sessions, be sure to utilize Zacks.com.