In the latest trading session, Microsoft (MSFT) closed at $258.74, marking a -0.77% move from the previous day. This move lagged the S&P 500's daily loss of 0.53%.Coming into today, shares of the software maker had gained 13.01% in the past month. In that same time, the Computer and Technology sector gained 8.44%, while the S&P 500 gained 5.72%.Investors will be hoping for strength from MSFT as it approaches its next earnings release, which is expected to be April 27, 2021. The company is expected to report EPS of $1.76, up 25.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $40.94 billion, up 16.9% from the prior-year quarter.For the full year, our Zacks Consensus Estimates are projecting earnings of $7.37 per share and revenue of $163.51 billion, which would represent changes of +27.95% and +14.33%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for MSFT. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MSFT is holding a Zacks Rank of #2 (Buy) right now.Valuation is also important, so investors should note that MSFT has a Forward P/E ratio of 35.38 right now. Its industry sports an average Forward P/E of 39.75, so we one might conclude that MSFT is trading at a discount comparatively.We can also see that MSFT currently has a PEG ratio of 2.79. 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 Computer - Software industry currently had an average PEG ratio of 2.73 as of yesterday's close.The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Want 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 Microsoft Corporation (MSFT): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research