Alphabet Inc. Shares Surge: Should You Invest?

by / ⠀News / March 13, 2024
"Shares Surge"

In the latest trading session, Alphabet Inc. (GOOG) shares surged by 1.94% to close at $138.94, performing more robustly than the S&P 500’s 0.11% drop. This uptick showcases Alphabet Inc.’s resilience against broader market fluctuations.

However, Alphabet’s shares have notably plummeted by 9.27% over the past thirty days, underperforming the Computer and Technology sector’s growth of 1.42% and S&P 500’s progress of 2.7%. This significant downturn indicates a volatile period for the company.

Alphabet Inc. is preparing to release its earnings report. Predictions indicate the tech giant will report earnings of $1.49 per share, signaling an annual growth rate of 27.35%. Additionally, experts are forecasting a 13.58% revenue increase, reaching $65.95 billion.

Zacks Consensus anticipates the company’s total annual performance will yield earnings of $6.77 per share and $286.48 billion in revenue. These figures represent a reported 16.72% growth in earnings and an 11.68% increase in revenue.

The company’s balance sheet shows assets totaling $169.5 billion, with current assets comprising $49.8 billion. Total liabilities are $114.7 billion, indicating strong financial health to fuel future expansions and investment opportunities.

The year-to-date (YTD) return is 11.27%, outperforming the industry average. Innovations and a customer-focused approach have contributed to Alphabet’s resilience amidst challenging market conditions.

Presently, Alphabet’s PEG ratio is 1.26, which is below the industry average of 2.25. This suggests Alphabet potentially offers good value relative to its expected growth. The Internet – Services industry, as part of the broader Computer and Technology sector, holds a Zacks Industry Rank of 152.

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About The Author

Erica Stacey

Erica Stacey is an entrepreneur and business strategist. As a prolific writer, she leverages her expertise in leadership and innovation to empower young professionals. With a proven track record of successful ventures under her belt, Erica's insights provide invaluable guidance to aspiring business leaders seeking to make their mark in today's competitive landscape.

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