Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group LLC in a research report issued to clients and investors on Tuesday, July 25th. They currently have a $1,200.00 price objective on the information services provider’s stock. Jefferies Group LLC’s price target points to a potential upside of 29.02% from the stock’s current price. Jefferies Group also issued estimates for Alphabet’s FY2017 earnings at $31.95 EPS and FY2018 earnings at $45.91 EPS.
The analysts wrote, “Google’s business is sustaining the highest levels of growth we’ve seen in around five years. The core ad business looks solid with mobile search and YouTube driving strong new ad clicks. And strong growth in emerging areas like cloud and hardware suggests those investments are paying off. TAC continues to increase but this is not a new story. GOOGL remains a franchise pick. Solid 1Q beat with broad-based strength across products and geographies. Consolidated net rev grew +19% Y/Y to $20.9B in 2Q, in-line with $20.9B consensus. Operating Income of $4.13B was below Street $4.26B but GAAP EPS of $5.01 beat consensus $4.39. Excluding the impact of the $2.7B European Commission (EC) fine, GAAP EPS of $8.90 beat street $8.28.””
Several other equities analysts have also recently weighed in on GOOGL. Instinet cut their target price on shares of Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a research note on Monday, March 27th. Nomura cut their target price on shares of Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a research note on Monday, March 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,005.00 target price on shares of Alphabet in a research note on Monday, March 27th. Pivotal Research reiterated a “hold” rating and set a $950.00 price objective on shares of Alphabet in a research report on Monday, March 27th. Finally, UBS AG reiterated a “buy” rating and set a $980.00 price objective on shares of Alphabet in a research report on Monday, March 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,049.20.
Shares of Alphabet (GOOGL) traded up 0.70% during mid-day trading on Tuesday, reaching $930.09. The company’s stock had a trading volume of 1,616,708 shares. The firm has a market cap of $644.44 billion, a price-to-earnings ratio of 33.71 and a beta of 0.99. The company’s 50-day moving average is $956.22 and its 200 day moving average is $908.99. Alphabet has a 12 month low of $743.59 and a 12 month high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.25 by $3.24. The firm had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period last year, the company earned $8.42 earnings per share. On average, equities analysts anticipate that Alphabet will post $30.59 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the company. Global Financial Private Capital LLC raised its stake in Alphabet by 9.5% in the second quarter. Global Financial Private Capital LLC now owns 1,966 shares of the information services provider’s stock worth $1,827,000 after buying an additional 171 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in Alphabet by 4.7% in the second quarter. Ontario Teachers Pension Plan Board now owns 58,241 shares of the information services provider’s stock worth $54,145,000 after buying an additional 2,604 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in Alphabet during the second quarter worth $224,000. Veritable L.P. raised its stake in Alphabet by 10.6% in the second quarter. Veritable L.P. now owns 11,765 shares of the information services provider’s stock worth $10,938,000 after buying an additional 1,123 shares during the last quarter. Finally, Waters Parkerson & CO. LLC raised its stake in Alphabet by 0.9% in the second quarter. Waters Parkerson & CO. LLC now owns 808 shares of the information services provider’s stock worth $751,000 after buying an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 34.31% of the company’s stock.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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