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Alphabet (GOOGL) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest trading session, Alphabet (GOOGL - Free Report) closed at $363.00, marking a -1.5% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.3% for the day. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq increased by 0.86%.
The stock of internet search leader has fallen by 8.05% in the past month, lagging the Computer and Technology sector's gain of 3.7% and the S&P 500's gain of 1.92%.
The upcoming earnings release of Alphabet will be of great interest to investors. The company's earnings per share (EPS) are projected to be $2.85, reflecting a 23.38% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $101 billion, indicating a 23.59% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $14.29 per share and a revenue of $422.05 billion, indicating changes of +32.19% and +23.08%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Alphabet. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% increase. Currently, Alphabet is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Alphabet is currently being traded at a Forward P/E ratio of 25.78. For comparison, its industry has an average Forward P/E of 16.38, which means Alphabet is trading at a premium to the group.
Investors should also note that GOOGL has a PEG ratio of 1.58 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Services stocks are, on average, holding a PEG ratio of 1.76 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 156, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Alphabet (GOOGL) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, Alphabet (GOOGL - Free Report) closed at $363.00, marking a -1.5% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.3% for the day. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq increased by 0.86%.
The stock of internet search leader has fallen by 8.05% in the past month, lagging the Computer and Technology sector's gain of 3.7% and the S&P 500's gain of 1.92%.
The upcoming earnings release of Alphabet will be of great interest to investors. The company's earnings per share (EPS) are projected to be $2.85, reflecting a 23.38% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $101 billion, indicating a 23.59% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $14.29 per share and a revenue of $422.05 billion, indicating changes of +32.19% and +23.08%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Alphabet. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% increase. Currently, Alphabet is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Alphabet is currently being traded at a Forward P/E ratio of 25.78. For comparison, its industry has an average Forward P/E of 16.38, which means Alphabet is trading at a premium to the group.
Investors should also note that GOOGL has a PEG ratio of 1.58 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Services stocks are, on average, holding a PEG ratio of 1.76 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 156, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.