Alphabet - GOOGL 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.

Alphabet Trading Up 2.6 %

Shares of NASDAQ:GOOGL opened at $119.70 on Thursday. The company's 50-day moving average price is $155.43 and its two-hundred day moving average price is $137.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. Alphabet has a one year low of $101.88 and a one year high of $151.55. The stock has a market capitalization of $1.58 trillion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08.

Alphabet (NASDAQ:GOOGL - Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the prior year, the firm earned $27.26 EPS. On average, equities analysts forecast that Alphabet will post 5.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wolfe Research lowered their price target on Alphabet from $175.00 to $145.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 27th. Evercore ISI decreased their target price on Alphabet from $155.50 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. Monness Crespi & Hardt decreased their target price on Alphabet to $145.00 in a research report on Tuesday, July 5th. Guggenheim decreased their target price on Alphabet to $130.00 and set an "outperform" rating on the stock in a research 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 on the stock in a research report on Wednesday, April 27th. Five research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $147.36.

Insider Activity

In other news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the company's stock in a transaction dated Tuesday, May 24th. The shares were bought at an average cost of $33.72 per share, with a total value of $456,164.16. Following the acquisition, the insider now owns 593,402 shares in the company, valued at $20,009,515.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the 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 sale, the senior vice president now owns 1,608 shares in the company, valued at approximately $3,484,117.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the business's stock in a transaction on Tuesday, May 24th. The stock was bought at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the transaction, the insider now directly owns 593,402 shares of the company's stock, valued at $20,009,515.44. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 42,852 shares of company stock valued at $15,750,955. 11.44% of the stock is owned by company insiders.