Alphabet Inc. (NASDAQ:GOOGL) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday, July 3rd. The firm currently has a $1,053.55 target price on the information services provider’s stock. Vetr‘s target price would indicate a potential upside of 9.94% from the stock’s current price.
Other research analysts have also issued research reports about the stock. Instinet reissued a “buy” rating and issued a $925.00 price target on shares of Alphabet in a research report on Tuesday, April 25th. BMO Capital Markets lowered shares of Alphabet from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $1,005.00 to $880.00 in a research report on Tuesday, April 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,040.00 price target on shares of Alphabet in a research report on Monday, March 13th. Jefferies Group LLC reissued a “buy” rating and issued a $1,200.00 price target (up previously from $1,000.00) on shares of Alphabet in a research report on Friday, April 28th. Finally, Loop Capital assumed coverage on shares of Alphabet in a research report on Friday, March 31st. They issued a “hold” rating and a $800.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,043.51.
Alphabet (NASDAQ GOOGL) opened at 958.33 on Monday. Alphabet has a 52 week low of $743.59 and a 52 week high of $1,008.61. The firm has a 50-day moving average price of $964.19 and a 200-day moving average price of $901.58. The firm has a market capitalization of $664.01 billion, a P/E ratio of 34.73 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Zacks’ consensus estimate of $8.25 by $3.24. The company had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same period in the prior year, the company posted $8.42 EPS. Equities analysts forecast that Alphabet will post $30.63 EPS for the current year.
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A number of large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter valued at about $2,411,505,000. Glenview Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $605,119,000. Harbour Capital Advisors LLC raised its stake in shares of Alphabet by 65,026.4% in the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock valued at $800,000 after buying an additional 742,602 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Alphabet by 1,116.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 554,276 shares of the information services provider’s stock valued at $439,667,000 after buying an additional 508,715 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Alphabet during the fourth quarter valued at about $341,958,000. Hedge funds and other institutional investors own 34.36% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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