Why Alphabet (GOOGL) Dipped More Than Broader Market Today

The latest trading session saw Alphabet (GOOGL) ending at $195.60, denoting a -0.26% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.04% for the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, lost 0.05%.The the stock of internet search leader has risen by 15.88% in the past month, leading the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 1.05%.The investment community will be closely monitoring the performance of Alphabet in its forthcoming earnings report. The company's upcoming EPS is projected at $2.12, signifying a 29.27% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $81.41 billion, showing a 12.57% escalation compared to the year-ago quarter.For the full year, the Zacks Consensus Estimates project earnings of $8.02 per share and a revenue of $294.82 billion, demonstrating changes of +38.28% and +14.94%, respectively, from the preceding year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Alphabet. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Alphabet currently has a Zacks Rank of #3 (Hold).In the context of valuation, Alphabet is at present trading with a Forward P/E ratio of 24.45. This indicates a discount in contrast to its industry's Forward P/E of 24.54.One should further note that GOOGL currently holds a PEG ratio of 1.39. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.06.The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.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. (GOOGL): 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