In the latest trading session, Alphabet (GOOGL) closed at $2,564.74, marking a +0.7% move from the previous day. This move outpaced the S&P 500's daily gain of 0.12%.Prior to today's trading, shares of the internet search leader had gained 4.88% over the past month. This has outpaced the Computer and Technology sector's gain of 4.26% and the S&P 500's gain of 3% in that time.Investors will be hoping for strength from GOOGL as it approaches its next earnings release, which is expected to be July 27, 2021. The company is expected to report EPS of $19.63, up 93.78% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $46.07 billion, up 45.79% from the year-ago period.GOOGL's full-year Zacks Consensus Estimates are calling for earnings of $89.46 per share and revenue of $193.83 billion. These results would represent year-over-year changes of +52.64% and +29.43%, respectively.Investors should also note any recent changes to analyst estimates for GOOGL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GOOGL is holding a Zacks Rank of #3 (Hold) right now.Looking at its valuation, GOOGL is holding a Forward P/E ratio of 28.47. This represents a discount compared to its industry's average Forward P/E of 31.06.Investors should also note that GOOGL has a PEG ratio of 1.57 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 2.9 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 227, putting it in the bottom 11% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>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.