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Alphabet Inc. (GOOG) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $2,888.33, marking a -0.45% move from the previous day. This change lagged the S&P 500's 0.06% loss on the day. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Coming into today, shares of the company had gained 0.89% in the past month. In that same time, the Computer and Technology sector gained 4.06%, while the S&P 500 gained 5.76%.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. On that day, Alphabet Inc. is projected to report earnings of $26.71 per share, which would represent year-over-year growth of 19.78%. Our most recent consensus estimate is calling for quarterly revenue of $59.3 billion, up 27.71% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Alphabet Inc.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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 25.57. Its industry sports an average Forward P/E of 25.73, so we one might conclude that Alphabet Inc. is trading at a discount comparatively.
Meanwhile, GOOG's PEG ratio is currently 0.99. 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 3.07 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 203, putting it in the bottom 21% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Alphabet Inc. (GOOG - Free Report) closed at $2,888.33, marking a -0.45% move from the previous day. This change lagged the S&P 500's 0.06% loss on the day. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Coming into today, shares of the company had gained 0.89% in the past month. In that same time, the Computer and Technology sector gained 4.06%, while the S&P 500 gained 5.76%.
Alphabet Inc. will be looking to display strength as it nears its next earnings release. On that day, Alphabet Inc. is projected to report earnings of $26.71 per share, which would represent year-over-year growth of 19.78%. Our most recent consensus estimate is calling for quarterly revenue of $59.3 billion, up 27.71% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Alphabet Inc.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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Alphabet Inc. currently has a Forward P/E ratio of 25.57. Its industry sports an average Forward P/E of 25.73, so we one might conclude that Alphabet Inc. is trading at a discount comparatively.
Meanwhile, GOOG's PEG ratio is currently 0.99. 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 3.07 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 203, putting it in the bottom 21% 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.