Roth Capital Raises Alphabet (NASDAQ:GOOGL) Price Target to $265.00

Key Points

• Roth Capital has raised its price target for Alphabet (NASDAQ:GOOGL) from $210.00 to $265.00, maintaining a "buy" rating, which indicates a potential upside of 4.39% from the stock's previous close.
• Multiple research firms have adjusted their price targets for Alphabet, with targets ranging from $190.00 to $290.00, reflecting a consensus average price target of $250.57 across various analysts.
• The stock currently has a consensus rating of "Moderate Buy," with four analysts rating it as Strong Buy, thirty-four as Buy, and ten as Hold, indicating overall positive sentiment towards the company.

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective raised by Roth Capital from $210.00 to $265.00 in a note issued to investors on Thursday,MarketScreener reports. The firm currently has a "buy" rating on the information services provider's stock. Roth Capital's target price would suggest a potential upside of 4.39% from the stock's previous close.

Several other research firms have also recently issued reports on GOOGL. DA Davidson lifted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd. Robert W. Baird increased their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. JMP Securities boosted their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research report on Friday, September 19th. Westpark Capital boosted their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $250.57.

Alphabet Trading Up 1.1%

GOOGL opened at $253.86 on Thursday. The business has a fifty day moving average price of $229.41 and a 200 day moving average price of $190.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet has a 12 month low of $140.53 and a 12 month high of $256.00. The stock has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts expect that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company's stock, valued at $4,171,312.80. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 103 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 244,438 shares of company stock worth $53,216,085. 11.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in the company. Mystic Asset Management Inc. raised its position in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co lifted its position in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after acquiring an additional 80 shares during the last quarter. Cypress Capital LLC lifted its position in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after acquiring an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC grew its position in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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