Alphabet (NASDAQ:GOOGL) Given "Market Outperform" Rating at Citizens Jmp

Key Points

• Citizens JMP reiterated its “market outperform” rating on Alphabet and kept a $515 price target, implying about 48% upside from the prior close.
• Alphabet’s latest earnings were strong, with EPS of $5.11 versus a $2.64 estimate and revenue of $109.9 billion topping expectations. Analysts still expect the company to earn $14.33 per share for the full year.
• Shares traded around $347.24, below recent analyst targets and the stock’s 52-week high of $408.61. However, some investors remain cautious about Alphabet’s heavy AI spending and potential margin pressure, even as reports of a new AI chip support bullish sentiment.

Alphabet (NASDAQ:GOOGL - Get Free Report)'s stock had its "market outperform" rating reiterated by analysts at Citizens Jmp in a report issued on Wednesday,Benzinga reports. They presently have a $515.00 price target on the information services provider's stock. Citizens Jmp's price objective indicates a potential upside of 48.31% from the company's previous close.

GOOGL has been the subject of a number of other research reports. Arete Research lifted their target price on shares of Alphabet from $405.00 to $425.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Jefferies Financial Group reiterated a "buy" rating on shares of Alphabet in a research report on Monday, June 22nd. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Friday, May 29th. Mizuho lifted their price objective on Alphabet from $420.00 to $460.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $455.00 target price (up from $435.00) on shares of Alphabet in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $414.54.

Alphabet Price Performance

GOOGL stock traded up $0.09 during midday trading on Wednesday, hitting $347.24. 7,518,084 shares of the stock were exchanged, compared to its average volume of 32,011,309. The stock's 50-day moving average price is $367.35 and its 200-day moving average price is $338.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $4.21 trillion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.46 and a beta of 1.24. Alphabet has a fifty-two week low of $187.82 and a fifty-two week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Research analysts predict that Alphabet will post 14.33 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares in the company, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Several large investors have recently added to or reduced their stakes in GOOGL. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY increased its stake in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after acquiring an additional 581 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after purchasing an additional 48,805 shares during the period. Finally, United Bank raised its holdings in shares of Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after purchasing an additional 3,120 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s upcoming Q2 results are expected to be a major test of the AI trade, with analysts looking for another earnings beat and continued strength in Search and Cloud. Can Strong Search and Cloud Growth Drive GOOGL's Q2 Earnings?
• Positive Sentiment: Reports that Alphabet is developing a new AI chip, “Frozen v2,” boosted sentiment by suggesting lower AI costs and better Gemini performance. Why is Alphabet stock gaining today?
• Neutral Sentiment: Wall Street price targets still imply meaningful upside, but the forecast is only as good as future earnings revisions and execution. Wall Street Analysts Think Alphabet (GOOGL) Could Surge 25.12%
• Negative Sentiment: Investors are wary that Alphabet’s heavy AI spending, delayed Gemini rollout, and large capital commitments may pressure margins if monetization doesn’t accelerate. Alphabet's Gemini delay, spending worries loom over earnings

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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