In the latest trading session, Alphabet Inc. (GOOG) closed at $163.07, marking a -0.95% move from the previous day. This change lagged the S&P 500’s 0.28% gain on the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.15%.
Shares of the company have depreciated by 1.67% over the course of the past month, underperforming the Computer and Technology sector’s loss of 0.02% and the S&P 500’s gain of 2%.
The upcoming earnings release of Alphabet Inc. will be of great interest to investors. The company’s upcoming EPS is projected at $1.83, signifying a 18.06% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $72.78 billion, up 13.62% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.63 per share and a revenue of $292.21 billion, representing changes of +31.55% and +13.92%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Alphabet Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Alphabet Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 21.57 right now. This denotes a discount relative to the industry’s average Forward P/E of 29.44.
One should further note that GOOG currently holds a PEG ratio of 1.22. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Internet – Services industry currently had an average PEG ratio of 1.8 as of yesterday’s close.
The Internet – Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 137, finds itself in the bottom 46% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Alphabet Inc. (GOOG) : Free Stock Analysis Report