Alphabet stock closes slightly lower despite positive month & growth predictions

From Nasdaq: 2024-07-09 17:45:20

Alphabet (GOOGL) closed trading at $188.98, a -0.03% change from the previous day. The stock’s month-long gain is 8.01%, surpassing the S&P 500’s increase. Earnings estimates predict a 27.78% growth in EPS and $70.55 billion in revenue. Analyst estimations are optimistic, leading to a Zacks Rank of #3 (Hold).

Alphabet’s valuation includes a Forward P/E ratio of 24.86, above the industry average. The PEG ratio, at 1.42, implies good value. The Internet – Services industry has a Zacks Industry Rank of 149, in the bottom 41%. The Zacks Rank emphasizes monitoring stock metrics for effective investment decisions.

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Read more at Nasdaq: Alphabet (GOOGL) Stock Falls Amid Market Uptick: What Investors Need to Know