Investing in the stock market requires skill and dedication, regardless of the investment strategy you choose. Whether you focus on growth, value, income, or momentum, it takes hard work to build a successful portfolio.
One company that is currently being recognized for its potential to perform well is Alphabet, also known as Google. This tech giant has recently been upgraded to a Zacks Rank #1 by a unique stock-rating model that highlights stocks with positive earnings estimate revisions and high institutional investor interest.
As one of the most innovative companies in the tech sector, Alphabet offers a wide range of products and services beyond its search engine origins. From cloud computing to ad-based video and music streaming, autonomous vehicles, and healthcare, this company has expanded into many different areas. With a dominant position in online search and a strong market presence, Alphabet continues to see growth in user adoption and advertiser activity.
In fact, analysts have raised their earnings estimates for Alphabet, with the Zacks Consensus Estimate increasing to $7.49 per share. Earnings are expected to grow 29.1% for the current fiscal year, with revenue projected to increase by 15%. The stock has also outperformed the S&P 500 over the past four weeks, indicating strong market momentum.
Given its #1 (Strong Buy) ranking by Zacks Investment Research’s unique stock-rating model along with positive earnings estimate revisions and market momentum, Alphabet could be an excellent addition to any investment portfolio. Whether you’re saving for retirement or college tuition or other financial goals, this company has the potential to help you achieve solid returns