Alphabet Inc. (GOOG) Gains But Lags Market: What You Should Know

Alphabet Inc. (GOOG) closed the latest trading day at $165.70, indicating a +0.8% change from the previous session's end. The stock lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.45%.Heading into today, shares of the company had gained 9.93% over the past month, outpacing the Computer and Technology sector's gain of 8.21% and the S&P 500's gain of 5.41% in that time.The investment community will be closely monitoring the performance of Alphabet Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of $1.83, showcasing a 18.06% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $72.78 billion, reflecting a 13.62% rise from the equivalent quarter last year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.63 per share and a revenue of $292.21 billion, indicating changes of +31.55% and +13.92%, respectively, from the former year.Investors should also take note of any recent adjustments to analyst estimates for Alphabet Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% lower. Alphabet Inc. currently has a Zacks Rank of #3 (Hold).In terms of valuation, Alphabet Inc. is currently trading at a Forward P/E ratio of 21.53. This signifies a discount in comparison to the average Forward P/E of 31.51 for its industry.Investors should also note that GOOG has a PEG ratio of 1.22 right now. 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. The average PEG ratio for the Internet - Services industry stood at 2 at the close of the market yesterday.The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% 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.You can find more information on all of these metrics, and much more, on Zacks.com.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alphabet Inc. (GOOG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks