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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. Evercore ISI cut their price target on Alphabet from $165.00 to $155.50 and set an "outperform" rating on the stock in a report on Thursday, July 7th. MKM Partners cut their price target on Alphabet from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, July 18th. Canaccord Genuity Group decreased their price objective on Alphabet from $175.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, April 27th. The Goldman Sachs Group set a $150.00 price target on Alphabet in a research report on Wednesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Alphabet from $157.50 to $145.00 in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $158.40.

Alphabet Stock Down 2.3 %

Shares of GOOG Stock traded down $2.74 during trading on Friday, hitting $118.12. 19,940,428 shares of the company were exchanged, compared to its average volume of 30,200,934. The business's 50-day simple moving average is $157.10 and its 200 day simple moving average is $137.78. Alphabet has a twelve month low of $102.21 and a twelve month high of $152.10. The firm has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.95 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81.

Alphabet (NASDAQ:GOOG - Get Rating) last issued its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $26.24 by ($25.03). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter last year, the business posted $27.26 EPS. As a group, analysts forecast that Alphabet will post 5.2 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 1,109 shares of the firm's stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the transaction, the senior vice president now owns 1,608 shares of the company's stock, valued at $3,484,117.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, insider John Kent Walker sold 34,799 shares of the business's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $118.25, for a total value of $4,114,981.75. Following the completion of the sale, the insider now owns 18,484 shares of the company's stock, valued at $2,185,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 1,109 shares of the firm's stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The disclosure for this sale can be found here. Insiders sold 42,852 shares of company stock valued at $15,750,955 in the last three months. Corporate insiders own 12.99% of the company's stock.