Alphabet (GOOGL - Free Report) closed the most recent trading day at $1,149.97, moving -0.08% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the internet search leader had gained 4.06% over the past month. This has outpaced the Computer and Technology sector's gain of 2.89% and the S&P 500's gain of 1.81% in that time.
GOOGL will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $10.55, up 6.2% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $29.98 billion, up 20.59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $47.38 per share and revenue of $131.79 billion. These totals would mark changes of -0.27% and +19.7%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for GOOGL. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.15% lower within the past month. GOOGL is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that GOOGL has a Forward P/E ratio of 24.29 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 24.29.
We can also see that GOOGL currently has a PEG ratio of 1.39. 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. The Internet - Services industry currently had an average PEG ratio of 2.7 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.