Alphabet Closes at $361.17, Down 1.25% as Market Rallies; Hold Rating Maintained

Alphabet (GOOG) closed at $361.17, falling 1.25% on June 8 even as the S&P 500 gained 0.3% and Nasdaq rose 0.86%, extending a difficult month in which the stock has shed 7.88% against a 1.9% gain for the broader market. Despite the near-term underperformance, analyst consensus remains constructive on fundamentals, projecting next-quarter EPS of $2.85 (+23.4% YoY) on revenue of $101 billion (+23.6%). Full-year estimates call for EPS of $14.29 and revenue of $422 billion, up 32.2% and 23.1% respectively. However, a stretched forward P/E of 25.59 versus an industry average of 16.38 and a D Value Style Score keep Zacks at a #3 Hold, suggesting shares may merely track the market near term.