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Alphabet (GOOGL) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Alphabet (GOOGL - Free Report) closed at $150.07, marking a -0.46% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.31%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the internet search leader had gained 4.73% in the past month. In that same time, the Computer and Technology sector gained 3.86%, while the S&P 500 gained 3.05%.
The upcoming earnings release of Alphabet will be of great interest to investors. On that day, Alphabet is projected to report earnings of $1.49 per share, which would represent year-over-year growth of 27.35%. Meanwhile, the latest consensus estimate predicts the revenue to be $65.95 billion, indicating a 13.58% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.77 per share and a revenue of $290.4 billion, signifying shifts of +16.72% and +13.21%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Alphabet. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Alphabet is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Alphabet's current valuation metrics, including its Forward P/E ratio of 22.26. Its industry sports an average Forward P/E of 25.97, so one might conclude that Alphabet is trading at a discount comparatively.
Investors should also note that GOOGL has a PEG ratio of 1.39 right now. 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 was holding an average PEG ratio of 2.21 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Alphabet (GOOGL) Dips More Than Broader Market: What You Should Know
In the latest trading session, Alphabet (GOOGL - Free Report) closed at $150.07, marking a -0.46% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.31%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the internet search leader had gained 4.73% in the past month. In that same time, the Computer and Technology sector gained 3.86%, while the S&P 500 gained 3.05%.
The upcoming earnings release of Alphabet will be of great interest to investors. On that day, Alphabet is projected to report earnings of $1.49 per share, which would represent year-over-year growth of 27.35%. Meanwhile, the latest consensus estimate predicts the revenue to be $65.95 billion, indicating a 13.58% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.77 per share and a revenue of $290.4 billion, signifying shifts of +16.72% and +13.21%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Alphabet. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Alphabet is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Alphabet's current valuation metrics, including its Forward P/E ratio of 22.26. Its industry sports an average Forward P/E of 25.97, so one might conclude that Alphabet is trading at a discount comparatively.
Investors should also note that GOOGL has a PEG ratio of 1.39 right now. 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 was holding an average PEG ratio of 2.21 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.