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Alphabet (GOOGL) Declines More Than Market: Some Information for Investors

The most recent trading session ended with Alphabet (GOOGL) standing at $136.38, reflecting a -1.8% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.17%. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq lost 0.55%.

The the stock of internet search leader has fallen by 8.31% in the past month, lagging the Computer and Technology sector's gain of 2.65% and the S&P 500's gain of 3.98%.

Market participants will be closely following the financial results of Alphabet in its upcoming release. It is anticipated that the company will report an EPS of $1.49, marking a 27.35% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $65.95 billion, indicating a 13.58% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $6.78 per share and revenue of $286.52 billion, which would represent changes of +16.9% and +11.7%, respectively, from the prior year.

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Investors might also notice recent changes to analyst estimates for Alphabet. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.24% increase. Right now, Alphabet possesses a Zacks Rank of #3 (Hold).

From a valuation perspective, Alphabet is currently exchanging hands at a Forward P/E ratio of 20.5. This valuation marks a discount compared to its industry's average Forward P/E of 27.08.

We can additionally observe that GOOGL currently boasts a PEG ratio of 1.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.18.

The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Alphabet Inc. (GOOGL) : Free Stock Analysis Report

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