Alphabet (NASDAQ:GOOGL) had its price target lifted by equities researchers at Barclays from $1,300.00 to $1,400.00 in a report released on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the information services provider’s stock. Barclays‘s price target suggests a potential upside of 4.31% from the stock’s current price.
A number of other equities research analysts have also issued reports on the company. Stifel Nicolaus increased their price target on Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday. Loop Capital increased their price target on Alphabet from $1,320.00 to $1,400.00 in a research note on Thursday, April 9th. Nomura increased their price target on Alphabet from $1,680.00 to $1,700.00 in a research note on Wednesday. MKM Partners increased their price target on Alphabet from $1,400.00 to $1,500.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,550.00 price target (up previously from $1,400.00) on shares of Alphabet in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $1,503.08.
Alphabet stock traded up $109.59 during trading on Wednesday, reaching $1,342.18. The company had a trading volume of 5,411,226 shares, compared to its average volume of 2,361,673. Alphabet has a 52 week low of $1,008.87 and a 52 week high of $1,530.74. The firm’s 50-day simple moving average is $1,183.10 and its 200 day simple moving average is $1,317.25. The firm has a market capitalization of $921.76 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04. The company has a current ratio of 3.37, a quick ratio of 3.35 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). Alphabet had a return on equity of 18.66% and a net margin of 21.22%. The company had revenue of $33.71 billion during the quarter, compared to the consensus estimate of $32.59 billion. During the same period in the prior year, the business posted $9.50 earnings per share. On average, analysts predict that Alphabet will post 42.76 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in GOOGL. Stephenson National Bank & Trust purchased a new stake in Alphabet during the 4th quarter valued at about $27,000. Cox Capital Mgt LLC purchased a new stake in Alphabet during the 1st quarter valued at about $27,000. TFO TDC LLC purchased a new stake in Alphabet during the 4th quarter valued at about $32,000. BigSur Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter valued at about $33,000. Finally, HighMark Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter valued at about $34,000. 35.07% of the stock is owned by institutional investors and hedge funds.
Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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