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Alphabet Inc. (GOOG) Suffers a Larger Drop Than the General Market: Key Insights

The most recent trading session ended with Alphabet Inc. (GOOG) standing at $137.43, reflecting a -1.91% 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 company's shares have seen a decrease of 8.46% over the last month, not keeping up with the Computer and Technology sector's gain of 2.65% and the S&P 500's gain of 3.98%.

Investors will be eagerly watching for the performance of Alphabet Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.49, indicating a 27.35% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $65.95 billion, up 13.58% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.78 per share and a revenue of $286.52 billion, indicating changes of +16.9% and +11.7%, respectively, from the former year.

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Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Alphabet Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.57% higher. Right now, Alphabet Inc. possesses a Zacks Rank of #3 (Hold).

Looking at valuation, Alphabet Inc. is presently trading at a Forward P/E ratio of 20.68. This signifies a discount in comparison to the average Forward P/E of 27.08 for its industry.

It is also worth noting that GOOG currently has a PEG ratio of 1.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Services industry currently had an average PEG ratio of 2.18 as of yesterday's close.

The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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Alphabet Inc. (GOOG) : Free Stock Analysis Report

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