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 2.4 %

Shares of GOOGL traded up $2.84 during midday trading on Friday, hitting $121.68. 19,036,416 shares of the stock were exchanged, compared to its average volume of 37,823,523. Alphabet has a 52-week low of $101.88 and a 52-week high of $151.55. The stock has a fifty day simple moving average of $155.57 and a 200 day simple moving average of $137.57. The firm has a market cap of $1.60 trillion, a P/E ratio of 22.64, a P/E/G ratio of 1.93 and a beta of 1.08. 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:GOOGL - Get Rating) last released 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 period in the previous year, the business earned $27.26 EPS. On average, research analysts anticipate that Alphabet will post 5.22 EPS for the current fiscal year.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Itau BBA Securities initiated coverage on Alphabet in a research note on Tuesday, July 26th. They issued a "market perform" rating and a $113.00 price objective on the stock. Evercore ISI cut their target price on Alphabet from $155.50 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, July 27th. Oppenheimer cut their target price on Alphabet to $155.00 and set an "outperform" rating for the company in a research report on Wednesday, July 27th. Barclays cut their target price on Alphabet from $160.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, July 5th. Finally, MKM Partners cut 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. 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $147.36.

Insider Activity

In other news, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now directly owns 565 shares in the company, valued at $1,346,575.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director Ann Mather sold 20 shares of the firm's stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now directly owns 565 shares in the company, valued at $1,346,575.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 13,528 shares of the business's stock in a transaction on Tuesday, May 24th. The stock was acquired at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the purchase, the insider now owns 593,402 shares of the company's stock, valued at $20,009,515.44. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 42,852 shares of company stock worth $15,750,955. Corporate insiders own 11.44% of the company's stock.