Alphabet Inc. (GOOGL) is attracting investor attention with strong earnings estimates and stock performance.
From Nasdaq: 2024-06-14 09:00:17
Alphabet (GOOGL) is one of the most searched-for stocks on Zacks.com. Shares of the internet search leader have returned +0.6% in the past month, compared to the industry’s gain of 3.4%. With strong earnings estimates for the current quarter and fiscal year, Alphabet has a Zacks Rank #1 (Strong Buy).
Analyzing earnings estimate revisions is crucial for determining a stock’s fair value. Alphabet is expected to post strong earnings growth of +28.5% for the current quarter and +31% for the current fiscal year. The company’s revenue growth forecast is also positive, with estimates indicating double-digit percentage increases for the current and next fiscal years.
Alphabet’s last reported results showed impressive year-over-year revenue growth and earnings per share. The company has consistently beaten consensus estimates for both revenue and EPS in the past four quarters. While the stock is currently graded D in terms of valuation, its Zacks Rank #1 suggests potential outperformance in the near term.
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