Why Alphabet Inc. (GOOG) Dipped More Than Broader Market Today

Alphabet Inc. (GOOG) closed the latest trading day at $197.08, indicating a -0.25% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow saw an upswing of 0.07%, while the tech-heavy Nasdaq depreciated by 0.05%.Shares of the company have appreciated by 15.66% over the course of the past month, outperforming the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 1.05%.Investors will be eagerly watching for 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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $81.41 billion, up 12.57% from the year-ago period.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.02 per share and revenue of $294.82 billion. These totals would mark changes of +38.28% and +14.94%, respectively, from last year.Any recent changes to analyst estimates for Alphabet Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Alphabet Inc. holds a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that Alphabet Inc. has a Forward P/E ratio of 24.63 right now. This represents a premium compared to its industry's average Forward P/E of 24.54.Investors should also note that GOOG has a PEG ratio of 1.38 right now. 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. The average PEG ratio for the Internet - Services industry stood at 2.06 at the close of the market yesterday.The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 36, placing it within the top 15% of over 250 industries.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. (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