Alphabet - GOOG Stock Forecast, Price & News

Alphabet Inc. provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store; and Fitbit wearable devices, Google Nest home products, Pixel phones, and other devices, as well as in the provision of YouTube non-advertising services. The Google Cloud segment offers infrastructure, platform, and other services; Google Workspace that include cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services. The company was founded in 1998 and is headquartered in Mountain View, California.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Oppenheimer decreased their target price on Alphabet from $3,290.00 to $165.00 in a research report on Tuesday, July 19th. Evercore ISI reduced their price target on Alphabet from $165.00 to $155.50 and set an "outperform" rating for the company in a report on Thursday, July 7th. MKM Partners reduced their price target on Alphabet from $165.00 to $140.00 and set a "buy" rating for the company in a report on Monday, July 18th. Cowen reduced their price target on Alphabet from $300.00 to $150.00 in a report on Monday, July 25th. Finally, Itau BBA Securities initiated coverage on Alphabet in a report on Tuesday, July 26th. They issued a "market perform" rating for the company. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.40.

Alphabet Stock Performance

GOOG opened at $120.65 on Thursday. The firm has a market cap of $1.59 trillion, a PE ratio of 22.45, a P/E/G ratio of 1.91 and a beta of 1.07. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $156.37 and a 200-day simple moving average of $138.28. Alphabet has a fifty-two week low of $102.21 and a fifty-two week high of $152.10.

Alphabet (NASDAQ:GOOG - Get Rating) last issued its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $26.24 by ($25.03). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period last year, the firm posted $27.26 earnings per share. As a group, equities analysts predict that Alphabet will post 5.22 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the firm's stock in a transaction dated Tuesday, May 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $456,164.16. Following the completion of the transaction, the insider now directly owns 593,402 shares in the company, valued at approximately $20,009,515.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the firm's stock in a transaction dated Tuesday, May 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $456,164.16. Following the completion of the transaction, the insider now directly owns 593,402 shares in the company, valued at approximately $20,009,515.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 21 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $2,102.84, for a total value of $44,159.64. Following the sale, the director now owns 565 shares of the company's stock, valued at $1,188,104.60. The disclosure for this sale can be found here. Insiders sold a total of 42,852 shares of company stock valued at $15,750,955 over the last quarter. Company insiders own 12.99% of the company's stock.