In the latest trading session, Alphabet (NASDAQ:GOOGL) closed at $1,204.96, marking a +0.5% move from the previous day. This change outpaced the S&P 500's 0% on the day. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq added 0.25%.
Heading into today, shares of the internet search leader had gained 3.95% over the past month, outpacing the Computer and Technology sector's gain of 3.92% and the S&P 500's gain of 2.36% in that time.
Wall Street will be looking for positivity from GOOGL as it approaches its next earnings report date. This is expected to be April 29, 2019. On that day, GOOGL is projected to report earnings of $10.55 per share, which would represent year-over-year growth of 6.24%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.98 billion, up 20.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $47.40 per share and revenue of $131.79 billion. These totals would mark changes of +8.47% and +19.7%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for GOOGL. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.05% higher. GOOGL currently has a Zacks Rank of #3 (Hold).
Digging into valuation, GOOGL currently has a Forward P/E ratio of 25.29. Its industry sports an average Forward P/E of 25.25, so we one might conclude that GOOGL is trading at a premium comparatively.
Meanwhile, GOOGL's PEG ratio is currently 1.44. 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 was holding an average PEG ratio of 2.85 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Alphabet Inc. (GOOGL): Free Stock Analysis Report
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