Alphabet (NASDAQ:GOOGL) had its target price boosted by analysts at Wedbush from $1,375.00 to $1,550.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Wedbush’s price objective would suggest a potential upside of 15.48% from the stock’s current price. The analysts noted that the move was a valuation call.
Other research analysts also recently issued research reports about the company. Barclays boosted their price target on Alphabet from $1,300.00 to $1,400.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Co restated a “buy” rating and set a $1,500.00 price target on shares of Alphabet in a report on Monday. Morgan Stanley boosted their price target on Alphabet from $1,310.00 to $1,400.00 and gave the company an “overweight” rating in a report on Wednesday. Zacks Investment Research upgraded Alphabet from a “sell” rating to a “hold” rating and set a $1,344.00 target price on the stock in a report on Monday, April 20th. Finally, Sanford C. Bernstein assumed coverage on Alphabet in a report on Friday, January 10th. They set an “outperform” rating and a $1,600.00 target price on the stock. Six research analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,503.08.
Shares of NASDAQ GOOGL traded up $109.59 during midday 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 one year low of $1,008.87 and a one year high of $1,530.74. The company has a quick ratio of 3.35, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $1,183.10 and its 200-day moving average price is $1,317.25. The stock has a market cap of $921.76 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). Alphabet had a net margin of 21.22% and a return on equity of 18.66%. The business had revenue of $33.71 billion for the quarter, compared to analysts’ expectations of $32.59 billion. During the same quarter in the prior year, the firm earned $9.50 EPS. As a group, equities research analysts expect that Alphabet will post 42.76 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Stephenson National Bank & Trust bought a new position in Alphabet in the 4th quarter worth $27,000. Cox Capital Mgt LLC bought a new position in Alphabet in the 1st quarter worth $27,000. TFO TDC LLC bought a new position in Alphabet in the 4th quarter worth $32,000. BigSur Wealth Management LLC bought a new position in Alphabet in the 4th quarter worth $33,000. Finally, HighMark Wealth Management LLC bought a new position in Alphabet in the 4th quarter worth $34,000. 35.07% of the stock is currently owned by hedge funds and other institutional investors.
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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