Alphabet (GOOGL) closed the most recent trading day at $2,773.39, moving +1.21% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.45%, and the Nasdaq, a tech-heavy index, lost 0.02%.Prior to today's trading, shares of the internet search leader had lost 7.42% over the past month. This has lagged the Computer and Technology sector's loss of 5.82% and the S&P 500's loss of 0.13% in that time.Investors will be hoping for strength from Alphabet as it approaches its next earnings release. In that report, analysts expect Alphabet to post earnings of $26.71 per share. This would mark year-over-year growth of 19.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $59.3 billion, up 27.71% from the year-ago period.Investors might also notice recent changes to analyst estimates for Alphabet. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant within the past month. Alphabet currently has a Zacks Rank of #3 (Hold).Digging into valuation, Alphabet currently has a Forward P/E ratio of 24.15. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 24.15.Investors should also note that GOOGL has a PEG ratio of 0.94 right now. 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 3.08 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 211, putting it in the bottom 18% 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>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.