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Why the Market Dipped But Alphabet Inc. (GOOG) Gained Today
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Alphabet Inc. (GOOG - Free Report) ended the recent trading session at $340.77, demonstrating a +1.02% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.25%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq appreciated by 0.24%.
Shares of the company have appreciated by 1.59% over the course of the past month, underperforming the Computer and Technology sector's gain of 4%, and outperforming the S&P 500's loss of 0.42%.
Analysts and investors alike will be keeping a close eye on the performance of Alphabet Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.95, reflecting a 2.79% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $111.49 billion, up 27.46% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $20.55 per share and a revenue of $433.58 billion, representing changes of +90.1% and +26.44%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Alphabet Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.26% upward. As of now, Alphabet Inc. holds a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet Inc. is currently trading at a Forward P/E ratio of 16.41. This indicates a premium in contrast to its industry's Forward P/E of 15.48.
We can additionally observe that GOOG currently boasts a PEG ratio of 0.98. 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 average PEG ratio for the Internet - Services industry stood at 1.68 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Why the Market Dipped But Alphabet Inc. (GOOG) Gained Today
Alphabet Inc. (GOOG - Free Report) ended the recent trading session at $340.77, demonstrating a +1.02% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.25%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq appreciated by 0.24%.
Shares of the company have appreciated by 1.59% over the course of the past month, underperforming the Computer and Technology sector's gain of 4%, and outperforming the S&P 500's loss of 0.42%.
Analysts and investors alike will be keeping a close eye on the performance of Alphabet Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.95, reflecting a 2.79% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $111.49 billion, up 27.46% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $20.55 per share and a revenue of $433.58 billion, representing changes of +90.1% and +26.44%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Alphabet Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.26% upward. As of now, Alphabet Inc. holds a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet Inc. is currently trading at a Forward P/E ratio of 16.41. This indicates a premium in contrast to its industry's Forward P/E of 15.48.
We can additionally observe that GOOG currently boasts a PEG ratio of 0.98. 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 average PEG ratio for the Internet - Services industry stood at 1.68 at the close of the market yesterday.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.