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Alphabet Inc. (GOOG) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $1,863.11, marking a +1.77% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.98%. Meanwhile, the Dow gained 0.99%, and the Nasdaq, a tech-heavy index, added 0.5%.
Investors will be hoping for strength from GOOG as it approaches its next earnings release, which is expected to be February 2, 2021. The company is expected to report EPS of $15.90, up 3.58% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $44.09 billion, up 17.34% from the year-ago period.
Any recent changes to analyst estimates for GOOG should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. GOOG is currently a Zacks Rank #2 (Buy).
Digging into valuation, GOOG currently has a Forward P/E ratio of 30.61. This represents a discount compared to its industry's average Forward P/E of 38.07.
Meanwhile, GOOG's PEG ratio is currently 1.81. 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 2.74 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 127, which puts it in the top 50% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Alphabet Inc. (GOOG) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $1,863.11, marking a +1.77% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.98%. Meanwhile, the Dow gained 0.99%, and the Nasdaq, a tech-heavy index, added 0.5%.
Investors will be hoping for strength from GOOG as it approaches its next earnings release, which is expected to be February 2, 2021. The company is expected to report EPS of $15.90, up 3.58% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $44.09 billion, up 17.34% from the year-ago period.
Any recent changes to analyst estimates for GOOG should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. GOOG is currently a Zacks Rank #2 (Buy).
Digging into valuation, GOOG currently has a Forward P/E ratio of 30.61. This represents a discount compared to its industry's average Forward P/E of 38.07.
Meanwhile, GOOG's PEG ratio is currently 1.81. 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 2.74 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 127, which puts it in the top 50% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.