Alphabet (NASDAQ:GOOGL) Price Target Raised to $3,200.00 at Stifel Nicolaus

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by Stifel Nicolaus from $3,000.00 to $3,200.00 in a report published on Wednesday morning, The Fly reports. They currently have a buy rating on the information services provider’s stock.

Other research analysts have also issued research reports about the stock. Argus increased their target price on shares of Alphabet from $2,800.00 to $3,100.00 and gave the stock a buy rating in a research note on Thursday, July 29th. Wells Fargo & Company reaffirmed an overweight rating and issued a $3,400.00 target price (up previously from $3,100.00) on shares of Alphabet in a report on Wednesday. Truist Securities raised their price objective on shares of Alphabet from $2,800.00 to $3,100.00 and gave the stock a buy rating in a report on Wednesday, July 28th. Barclays lifted their target price on shares of Alphabet from $3,200.00 to $3,300.00 and gave the company an overweight rating in a report on Wednesday. Finally, Susquehanna lifted their price objective on shares of Alphabet from $3,100.00 to $3,600.00 and gave the company a positive rating in a research report on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-eight have given a buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of Buy and an average price target of $3,077.44.

NASDAQ:GOOGL opened at $2,924.35 on Wednesday. The company has a market cap of $1.95 trillion, a PE ratio of 31.70, a P/E/G ratio of 1.83 and a beta of 1.00. Alphabet has a twelve month low of $1,508.48 and a twelve month high of $2,973.00. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $2,799.67 and its two-hundred day moving average is $2,554.37.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $23.13 by $4.86. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. During the same quarter in the prior year, the firm earned $16.40 EPS. As a group, analysts expect that Alphabet will post 101.86 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in GOOGL. Laurel Wealth Planning LLC acquired a new position in Alphabet during the 2nd quarter valued at about $27,000. True Link Financial Advisors LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $29,000. Financial Insights Inc. bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $39,000. Harvest Group Wealth Management LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $66,000. Finally, Cowen Prime Advisors LLC bought a new stake in Alphabet during the 2nd quarter valued at $98,000. Institutional investors own 34.43% of the company’s stock.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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