Alphabet (GOOGL) stock increases but lags behind market, positive.

From Nasdaq: 2024-10-08 17:45:20

Alphabet (GOOGL) closed at $164.38, up 0.86% from the previous day, lagging behind the S&P 500 but outperforming in the past month with a 9.6% increase. The upcoming earnings release projects $1.83 per share and $72.77 billion in revenue, with analyst revisions reflecting positivity towards the company’s operations and profitability.

Alphabet’s Zacks Rank of #3 (Hold) reflects a 0.01% decrease in EPS estimate. With a Forward P/E ratio of 21.35 and PEG ratio of 1.22, GOOGL appears undervalued compared to industry averages. The Internet – Services industry has a Zacks Industry Rank of 97, in the top 39% of all industries, showing promising potential for investors.

Experts have identified 7 elite stocks as “Most Likely for Early Price Pops,” including Alphabet, based on Zacks Rank #1 Strong Buys with a history of outperforming the market by over 2X since 1988. These top stock picks have shown an average gain of +23.7% yearly, making them worth immediate attention for investors seeking promising returns.



Read more at Nasdaq: Alphabet (GOOGL) Increases Yet Falls Behind Market: What Investors Need to Know