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 Upgrades and Downgrades

Several equities research analysts have weighed in on GOOG shares. JPMorgan Chase & Co. set a $140.00 price target on Alphabet in a report on Thursday, July 21st. Piper Sandler lowered their price target on Alphabet from $139.00 to $135.00 and set an "overweight" rating for the company in a report on Wednesday, July 27th. Wedbush reissued an "outperform" rating on shares of Alphabet in a report on Wednesday, April 20th. Susquehanna Bancshares decreased their target price on Alphabet from $187.00 to $150.00 in a report on Wednesday, July 27th. Finally, Canaccord Genuity Group decreased their target price on Alphabet from $175.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, April 27th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $158.40.

Alphabet Price Performance

Shares of NASDAQ:GOOG traded down $0.65 during trading on Friday, reaching $118.22. The stock had a trading volume of 15,615,663 shares, compared to its average volume of 29,612,324. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The business has a fifty day moving average price of $156.19 and a 200-day moving average price of $138.48. The stock has a market cap of $1.56 trillion, a PE ratio of 21.99, a PEG ratio of 1.92 and a beta of 1.07. Alphabet has a 1-year low of $102.21 and a 1-year high of $152.10.

Alphabet (NASDAQ:GOOG - Get Rating) last issued its quarterly 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 return on equity of 28.65% and a net margin of 25.89%. During the same period last year, the business earned $27.26 earnings per share. On average, equities analysts forecast that Alphabet will post 5.22 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the purchase, the insider now owns 479,695 shares of the company's stock, valued at approximately $16,621,431.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the business's stock in a transaction on Friday, July 1st. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the stock in a transaction on Tuesday, May 10th. The shares were bought at an average cost of $34.65 per share, for a total transaction of $8,858,168.55. Following the purchase, the insider now directly owns 479,695 shares of the company's stock, valued at approximately $16,621,431.75. The disclosure for this purchase can be found here. Insiders have sold 42,383 shares of company stock valued at $15,761,666 over the last ninety days. Insiders own 12.99% of the company's stock.