Alphabet Inc. (GOOG) Stock Sinks As Market Gains: Here's Why

Alphabet Inc. (GOOG) ended the recent trading session at $195.40, demonstrating a -0.67% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.16%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq lost 0.06%.The company's stock has climbed by 5.46% in the past month, exceeding the Computer and Technology sector's loss of 0.17% and the S&P 500's loss of 2.8%.Analysts and investors alike will be keeping a close eye on the performance of Alphabet Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.12, showcasing a 29.27% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $81.41 billion, indicating a 12.57% upward movement from the same quarter last year.Any recent changes to analyst estimates for Alphabet Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.08% fall in the Zacks Consensus EPS estimate. Right now, Alphabet Inc. possesses a Zacks Rank of #3 (Hold).Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 22.05. This expresses a discount compared to the average Forward P/E of 23.26 of its industry.Meanwhile, GOOG's PEG ratio is currently 1.24. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Services stocks are, on average, holding a PEG ratio of 1.58 based on yesterday's closing prices.The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 42, finds itself in the top 17% echelons of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.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 +24.1% 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