Alphabet (GOOGL) closed the most recent trading day at $2,435.13, moving +1.13% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.47%.Prior to today's trading, shares of the internet search leader had gained 9.44% over the past month. This has outpaced the Computer and Technology sector's gain of 2.06% and the S&P 500's loss of 0.12% in that time.GOOGL will be looking to display strength as it nears its next earnings release. In that report, analysts expect GOOGL to post earnings of $19.63 per share. This would mark year-over-year growth of 93.78%. Meanwhile, our latest consensus estimate is calling for revenue of $46.17 billion, up 46.08% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $89.46 per share and revenue of $194.39 billion. These totals would mark changes of +52.64% and +29.81%, respectively, from last year.Investors should also note any recent changes to analyst estimates for GOOGL. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.77% higher within the past month. GOOGL currently has a Zacks Rank of #2 (Buy).Investors should also note GOOGL's current valuation metrics, including its Forward P/E ratio of 26.92. This represents a discount compared to its industry's average Forward P/E of 29.21.We can also see that GOOGL currently has a PEG ratio of 1.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Services industry currently had an average PEG ratio of 1.9 as of yesterday's close.The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% 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 Alphabet Inc. (GOOGL): Free Stock Analysis Report To read this article on Zacks.com click here.