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Alphabet Inc. (GOOG) Advances While Market Declines: Some Information for Investors
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The latest trading session saw Alphabet Inc. (GOOG - Free Report) ending at $142.56, denoting a +1.44% adjustment from its last day's close. This change outpaced the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq added 0.09%.
The company's stock has climbed by 4.33% in the past month, exceeding the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 3.5%.
Market participants will be closely following the financial results of Alphabet Inc. in its upcoming release. The company is expected to report EPS of $1.62, up 54.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $70.59 billion, up 11.83% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Alphabet Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.29% increase. Right now, Alphabet Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet Inc. is currently trading at a Forward P/E ratio of 20.84. For comparison, its industry has an average Forward P/E of 23.86, which means Alphabet Inc. is trading at a discount to the group.
Meanwhile, GOOG's PEG ratio is currently 1.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.99.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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) Advances While Market Declines: Some Information for Investors
The latest trading session saw Alphabet Inc. (GOOG - Free Report) ending at $142.56, denoting a +1.44% adjustment from its last day's close. This change outpaced the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq added 0.09%.
The company's stock has climbed by 4.33% in the past month, exceeding the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 3.5%.
Market participants will be closely following the financial results of Alphabet Inc. in its upcoming release. The company is expected to report EPS of $1.62, up 54.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $70.59 billion, up 11.83% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Alphabet Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.29% increase. Right now, Alphabet Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Alphabet Inc. is currently trading at a Forward P/E ratio of 20.84. For comparison, its industry has an average Forward P/E of 23.86, which means Alphabet Inc. is trading at a discount to the group.
Meanwhile, GOOG's PEG ratio is currently 1.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.99.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.