Alphabet Inc. (GOOG) Stock Declines While Market Improves: Some Information for Investors

Alphabet Inc. (GOOG) ended the recent trading session at $167.71, demonstrating a -1.56% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.58% for the day. Elsewhere, the Dow saw an upswing of 0.51%, while the tech-heavy Nasdaq appreciated by 0.81%.Shares of the company have appreciated by 2.6% over the course of the past month, underperforming the Computer and Technology sector's gain of 7.05% and the S&P 500's gain of 4.61%.The upcoming earnings release of Alphabet Inc. will be of great interest to investors. On that day, Alphabet Inc. is projected to report earnings of $2.12 per share, which would represent year-over-year growth of 12.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $78.86 billion, up 10.51% from the year-ago period.For the full year, the Zacks Consensus Estimates project earnings of $9.47 per share and a revenue of $331.17 billion, demonstrating changes of +17.79% and +12.22%, respectively, from the preceding year.It's also important for investors to be aware of any recent modifications to analyst estimates for Alphabet Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.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 moved 0.46% higher. At present, Alphabet Inc. boasts a Zacks Rank of #3 (Hold).Looking at its valuation, Alphabet Inc. is holding a Forward P/E ratio of 17.99. For comparison, its industry has an average Forward P/E of 17.99, which means Alphabet Inc. is trading at no noticeable deviation to the group.It's also important to note that GOOG currently trades at a PEG ratio of 1.29. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Internet - Services industry stood at 1.35 at the close of the market yesterday.The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alphabet Inc. (GOOG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks