Alphabet (GOOGL) closed the most recent trading day at $1,226.43, moving +1.99% from the previous trading session. This change outpaced the S&P 500's 0.29% loss on the day. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq gained 0.07%.
Prior to today's trading, shares of the internet search leader had gained 6.74% over the past month. This has outpaced the Computer and Technology sector's gain of 4.76% and the S&P 500's gain of 2.14% in that time.
Wall Street will be looking for positivity from GOOGL as it approaches its nex t earnings report date. The company is expected to report EPS of $10.55, up 6.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $29.98 billion, up 20.59% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $47.40 per share and revenue of $131.79 billion, which would represent changes of +8.47% and +19.7%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for GOOGL. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. GOOGL is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note GOOGL's current valuation metrics, including its Forward P/E ratio of 25.37. For comparison, its industry has an average Forward P/E of 25.37, which means GOOGL is trading at a no noticeable deviation to the group.
Also, we should mention that GOOGL has a PEG ratio of 1.45. 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. GOOGL's industry had an average PEG ratio of 2.81 as of yesterday's close.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.