Alphabet (NASDAQ:GOOGL) PT Raised to $1,725.00 at Guggenheim

Alphabet (NASDAQ:GOOGL) had its price target increased by Guggenheim from $1,580.00 to $1,725.00 in a research note issued on Friday, The Fly reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Guggenheim’s target price indicates a potential upside of 15.93% from the company’s previous close.

A number of other research firms have also commented on GOOGL. Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and lifted their price target for the company from $1,550.00 to $1,600.00 in a research report on Friday. Jefferies Financial Group raised shares of Alphabet to a “buy” rating in a research report on Monday, July 13th. Pivotal Research lifted their price target on shares of Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research report on Friday. Goldman Sachs Group lifted their price target on shares of Alphabet from $1,425.00 to $1,775.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, Mizuho lifted their price target on shares of Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a hold rating and forty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $1,657.51.

Shares of GOOGL opened at $1,487.95 on Friday. The firm has a market cap of $1,015.70 billion, a PE ratio of 32.72, a PEG ratio of 2.27 and a beta of 1.06. The firm’s 50 day moving average price is $1,473.93 and its 200 day moving average price is $1,375.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. Alphabet has a twelve month low of $1,008.87 and a twelve month high of $1,587.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. On average, sell-side analysts anticipate that Alphabet will post 42.07 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Spence Asset Management grew its position in shares of Alphabet by 45.5% in the 1st quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 10 shares during the period. OmniStar Financial Group Inc. acquired a new position in Alphabet during the 1st quarter worth approximately $44,000. Cedar Mountain Advisors LLC raised its stake in shares of Alphabet by 26.9% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after purchasing an additional 7 shares in the last quarter. Center for Financial Planning Inc. raised its stake in shares of Alphabet by 35.5% during the 1st quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock worth $49,000 after purchasing an additional 11 shares in the last quarter. Finally, Danda Trouve Investment Management Inc. raised its stake in shares of Alphabet by 42.9% during the 1st quarter. Danda Trouve Investment Management Inc. now owns 50 shares of the information services provider’s stock worth $58,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 34.14% of the company’s stock.

About Alphabet

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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