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.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. MKM Partners lowered their target price on shares of Alphabet from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, July 18th. William Blair reissued an "outperform" rating on shares of Alphabet in a research report on Wednesday, July 27th. Guggenheim decreased their price target on shares of Alphabet to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, July 27th. Exane BNP Paribas downgraded shares of Alphabet from an "outperform" rating to a "neutral" rating in a report on Wednesday, July 20th. Finally, JMP Securities dropped their price objective on shares of Alphabet from $165.00 to $160.00 and set a "market outperform" rating for the company in a report on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $147.36.

Alphabet Stock Down 0.4 %

Shares of NASDAQ:GOOGL traded down $0.49 during mid-day trading on Monday, hitting $121.19. 121,934 shares of the company traded hands, compared to its average volume of 37,580,414. The stock has a market cap of $1.60 trillion, a P/E ratio of 22.64, a P/E/G ratio of 1.97 and a beta of 1.08. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. Alphabet has a 12-month low of $101.88 and a 12-month high of $151.55. The stock has a 50-day moving average price of $155.71 and a two-hundred day moving average price of $137.65.

Alphabet (NASDAQ:GOOGL - Get Rating) last announced its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates 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 prior year, the business earned $27.26 earnings per share. On average, equities research analysts forecast that Alphabet will post 5.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 500 shares of Alphabet stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the transaction, the director now directly owns 34,760 shares in the company, valued at $4,171,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, insider John Kent Walker sold 34,799 shares of the company's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the sale, the insider now directly owns 18,484 shares of the company's stock, valued at $2,185,733. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 500 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the sale, the director now directly owns 34,760 shares in the company, valued at $4,171,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,852 shares of company stock valued at $15,750,955. Corporate insiders own 11.44% of the company's stock.