From Nasdaq.: 2024-05-10 09:00:15

Alphabet (GOOGL) stock has gained +6.6% over the past month, outperforming the Zacks S&P 500 composite. The Zacks Internet – Services industry, which Alphabet belongs to, has also seen a 6.6% increase. Analysts project an earnings growth of +27.8% for the current quarter and +30.5% for the fiscal year, leading to a Zacks Rank #1 (Strong Buy) for Alphabet.

Looking ahead, Alphabet is expected to report a revenue growth of +13.6% for the current quarter, with estimates of $70.48 billion. For the current and next fiscal years, revenue estimates of $295.12 billion and $329.03 billion respectively indicate +15.1% and +11.5% changes. The company has consistently beaten consensus EPS and revenue estimates.

Alphabet is currently graded D on valuation metrics, indicating it is trading at a premium to its peers. However, its Zacks Rank #1 suggests potential outperformance in the near term. Zacks Investment Research has released a Special Report on Bitcoin, predicting another surge following historical presidential election year returns of +272.4%, +161.1%, and +302.8%. Click here for more information.



Read more at Nasdaq.: Here is What to Know Beyond Why Alphabet Inc. (GOOGL) is a Trending Stock