In the latest close session, Alphabet Inc. (GOOG) was up +1.02% at $321.00. The stock outperformed the S&P 500, which registered a daily gain of 0.68%. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 0.33%.
Shares of the company witnessed a gain of 8.92% over the previous month, beating the performance of the Computer and Technology sector with its gain of 4.45%, and the S&P 500’s gain of 1.8%.
Investors will be eagerly watching for the performance of Alphabet Inc. in its upcoming earnings disclosure. In that report, analysts expect Alphabet Inc. to post earnings of $2.58 per share. This would mark year-over-year growth of 20%. Meanwhile, the latest consensus estimate predicts the revenue to be $94.26 billion, indicating a 15.49% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.52 per share and revenue of $340.26 billion, indicating changes of +30.85% and +15.3%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Alphabet Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.54% higher. Alphabet Inc. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Alphabet Inc.’s current valuation metrics, including its Forward P/E ratio of 30.21. This indicates a premium in contrast to its industry’s Forward P/E of 19.64.
We can also see that GOOG currently has a PEG ratio of 1.84. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. The Internet – Services industry had an average PEG ratio of 1.84 as trading concluded yesterday.
The Internet – Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 41% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Alphabet Inc. (GOOG) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
