From Nasdaq:

Alphabet (GOOGL) closed at $142.47 in the latest trading session, indicating a -0.13% move from the prior day. This was narrower than the S&P 500’s daily loss of 0.37%. The Dow saw a downswing of 0.62%, while the Nasdaq depreciated by 0.19%.

Before today’s trading, Alphabet shares had gained 5.04% over the past month, outpacing the Computer and Technology sector’s gain of 1.22% and the S&P 500’s gain of 1.56% in that time.

Investors are awaiting Alphabet’s financial results, with an expected EPS of $1.62, up 54.29% from the prior-year quarter. The latest consensus estimate predicts revenue of $70.59 billion, an 11.83% increase from the same quarter of the previous year.

Recent revisions in analyst estimates for Alphabet tend to reflect the latest near-term business trends. Upward revisions express analysts’ positivity towards the company’s operations and profit generation. These estimate alterations are directly linked with the stock price performance in the near future.

Alphabet presently features a Zacks Rank of #3 (Hold). The Zacks Rank model integrates estimate changes and provides a functional rating system, boasting a track record of stock outperformance.

In terms of valuation, Alphabet is trading with a Forward P/E ratio of 21.15, marking a discount compared to its industry’s average Forward P/E of 25.42. It also has a PEG ratio of 1.27, reflecting earnings growth expectations.

The Internet – Services industry has a Zacks Industry Rank of 77, placing it in the top 31% echelon of all 250+ industries. The Zacks Industry Rank guage shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Interested in the latest stock-moving metrics? Use Zacks.com to follow these and more during the upcoming sessions.

Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful.

From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. Be among the first to see these just-released stocks with enormous potential.



Read more: Alphabet (GOOGL) Stock Moves -0.13%: What You Should Know