Alphabet Inc. (GOOG) Stock Falls Amid Market Uptick: What Investors Need to Know

Alphabet Inc. (GOOG) ended the recent trading session at $191.05, demonstrating a -0.64% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq lost 0.23%.The company's stock has dropped by 2.96% in the past month, exceeding the Computer and Technology sector's loss of 3.73% and the S&P 500's loss of 3.45%.The investment community will be paying close attention to the earnings performance of Alphabet Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $2.12, reflecting a 29.27% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $81.41 billion, up 12.57% from the prior-year quarter.It is also important to note the recent changes to analyst estimates for Alphabet Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.11% higher within the past month. Alphabet Inc. is holding a Zacks Rank of #3 (Hold) right now.With respect to valuation, Alphabet Inc. is currently being traded at a Forward P/E ratio of 21.51. This represents no noticeable deviation compared to its industry's average Forward P/E of 21.51.Investors should also note that GOOG has a PEG ratio of 1.21 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.5.The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 54, this industry ranks in the top 22% of all industries, numbering over 250.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.To follow GOOG in the coming trading sessions, be sure to utilize Zacks.com.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.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