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 research analysts have commented on the stock. MKM Partners decreased their target price on shares of Alphabet from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, July 18th. Cowen cut their target price on Alphabet from $300.00 to $150.00 in a research note on Monday, July 25th. Credit Suisse Group set a $143.00 price target on Alphabet in a research note on Tuesday, July 19th. Susquehanna Bancshares lowered their price target on Alphabet from $187.00 to $150.00 in a report on Wednesday, July 27th. Finally, Evercore ISI reduced their price objective on shares of Alphabet from $165.00 to $155.50 and set an "outperform" rating for the company in a report on Thursday, July 7th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.40.

Alphabet Trading Up 2.4 %

GOOG traded up $2.83 during trading on Friday, reaching $122.65. The company had a trading volume of 16,121,087 shares, compared to its average volume of 26,265,448. 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 has a 12-month low of $102.21 and a 12-month high of $152.10. The company has a market cap of $1.62 trillion, a price-to-earnings ratio of 22.82, a PEG ratio of 1.94 and a beta of 1.07. The firm's 50-day simple moving average is $156.70 and its 200 day simple moving average is $138.06.

Alphabet (NASDAQ:GOOG - Get Rating) last released 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 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. Equities research analysts anticipate that Alphabet will post 5.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the sale, the senior vice president now owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares of the company's stock, valued at approximately $3,484,117.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 42 shares of Alphabet stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $2,298.63, for a total value of $96,542.46. Following the transaction, the chief accounting officer now directly owns 1,181 shares in the company, valued at approximately $2,714,682.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,852 shares of company stock worth $15,750,955. Corporate insiders own 12.99% of the company's stock.