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Alphabet (GOOGL) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Alphabet (GOOGL - Free Report) closed at $380.34, marking a -2.51% move from the previous day. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.21%.
The internet search leader's stock has climbed by 1.39% in the past month, falling short of the Computer and Technology sector's gain of 11.95% and the S&P 500's gain of 6.04%.
Analysts and investors alike will be keeping a close eye on the performance of Alphabet in its upcoming earnings disclosure. On that day, Alphabet is projected to report earnings of $2.85 per share, which would represent year-over-year growth of 23.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $101 billion, up 23.59% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $14.29 per share and a revenue of $422.05 billion, demonstrating changes of +32.19% and +23.08%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Alphabet. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 24.01% upward. At present, Alphabet boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Alphabet is holding a Forward P/E ratio of 27.3. This represents a premium compared to its industry average Forward P/E of 16.19.
Investors should also note that GOOGL has a PEG ratio of 1.67 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Services industry currently had an average PEG ratio of 1.88 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 108, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Alphabet (GOOGL) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Alphabet (GOOGL - Free Report) closed at $380.34, marking a -2.51% move from the previous day. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow gained 0.72%, and the Nasdaq, a tech-heavy index, added 0.21%.
The internet search leader's stock has climbed by 1.39% in the past month, falling short of the Computer and Technology sector's gain of 11.95% and the S&P 500's gain of 6.04%.
Analysts and investors alike will be keeping a close eye on the performance of Alphabet in its upcoming earnings disclosure. On that day, Alphabet is projected to report earnings of $2.85 per share, which would represent year-over-year growth of 23.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $101 billion, up 23.59% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $14.29 per share and a revenue of $422.05 billion, demonstrating changes of +32.19% and +23.08%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Alphabet. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 24.01% upward. At present, Alphabet boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Alphabet is holding a Forward P/E ratio of 27.3. This represents a premium compared to its industry average Forward P/E of 16.19.
Investors should also note that GOOGL has a PEG ratio of 1.67 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Services industry currently had an average PEG ratio of 1.88 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 108, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.