Alphabet Inc (NASDAQ:GOOG) shares, rose in value on Thursday, March 14, with the stock price up by 1.50% to the previous day’s close as strong demand from buyers drove the stock to $142.88.
Actively observing the price movement in the recent trading, the stock is buoying the session at $140.77. The value of beta (5-year monthly) is 1.04 whereas the PE ratio is 24.61 over 12-month period. Referring to stock’s 52-week performance, its high was $155.20, and the low was $92.78. On the whole, GOOG has fluctuated by -2.38% over the past month.
With the market capitalization of Alphabet Inc currently standing at about $1776.43 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 23, 2024 – Apr 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.5, which is expected to increase to $1.81 for fiscal year $6.79 and then to about $7.82 by fiscal year 2025. Data indicates that the EPS growth is expected to be 17.10% in 2025, while the next year’s EPS growth is forecast to be 15.20%.
Analysts have estimated the company’s revenue for the quarter at $78.59 billion, with a low estimate of $77.04 billion and a high estimate of $80.3 billion. According to the average forecast, sales growth in current quarter could jump up 12.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $342.23 billion, representing an increase of 11.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GOOG’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.28, with the price of GOOG currently trading nearly 2.24% and -0.29% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.85, while the 7-day volatility ratio is showing 2.13% which for the 30-day chart, stands at 1.95%. Furthermore, Alphabet Inc (GOOG)’s beta value is 1.05, and its average true range (ATR) is 3.02.
A comparison of Alphabet Inc (GOOG) with its peers suggests the former has fared considerably weaker in the market. GOOG showed an intraday change of 1.50% in today’s session so far, and over the past year, it grew by 51.60%%.
Data on historical trading for Alphabet Inc (NASDAQ:GOOG) indicates that the trading volumes over the past 10 days have averaged 27.1 million and over the past 3 months, they’ve averaged 22.95 million. According to company’s latest data on outstanding shares, there are 5.69 billion shares outstanding.
Nearly 57.58% of Alphabet Inc’s shares belong to company insiders and institutional investors own 27.86% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 34.87 million shares as on Feb 29, 2024, resulting in a short ratio of 1.24. According to the data, the short interest in Alphabet Inc (GOOG) stood at 0.25% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 37.12 million. The stock has risen by 1.38% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GOOG stock heading into the next quarter.
