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Alphabet Inc. (GOOG) Gains But Lags Market: What You Should Know
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Alphabet Inc. (GOOG - Free Report) closed the most recent trading day at $114.70, moving +0.07% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the company had gained 2.33% in the past month. In that same time, the Computer and Technology sector lost 12.83%, while the S&P 500 gained 7.25%.
Alphabet Inc. will be looking to display strength as it nears its next earnings release, which is expected to be July 26, 2022. On that day, Alphabet Inc. is projected to report earnings of $1.30 per share, which would represent a year-over-year decline of 4.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.85 billion, up 13.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.44 per share and revenue of $243.25 billion, which would represent changes of -3.03% and +14.7%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Alphabet Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 1.63% lower. Alphabet Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 21.07. Its industry sports an average Forward P/E of 20.92, so we one might conclude that Alphabet Inc. is trading at a premium comparatively.
Meanwhile, GOOG's PEG ratio is currently 1.14. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. GOOG's industry had an average PEG ratio of 1.57 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 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Alphabet Inc. (GOOG) Gains But Lags Market: What You Should Know
Alphabet Inc. (GOOG - Free Report) closed the most recent trading day at $114.70, moving +0.07% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.59%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the company had gained 2.33% in the past month. In that same time, the Computer and Technology sector lost 12.83%, while the S&P 500 gained 7.25%.
Alphabet Inc. will be looking to display strength as it nears its next earnings release, which is expected to be July 26, 2022. On that day, Alphabet Inc. is projected to report earnings of $1.30 per share, which would represent a year-over-year decline of 4.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.85 billion, up 13.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.44 per share and revenue of $243.25 billion, which would represent changes of -3.03% and +14.7%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Alphabet Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 1.63% lower. Alphabet Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 21.07. Its industry sports an average Forward P/E of 20.92, so we one might conclude that Alphabet Inc. is trading at a premium comparatively.
Meanwhile, GOOG's PEG ratio is currently 1.14. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. GOOG's industry had an average PEG ratio of 1.57 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 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.