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.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group cut their price target on Alphabet from $155.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, July 27th. Credit Suisse Group reduced their price target on shares of Alphabet from $143.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, July 27th. UBS Group dropped their price objective on shares of Alphabet from $133.00 to $132.00 and set a "buy" rating on the stock in a report on Wednesday, July 27th. Moffett Nathanson reduced their target price on shares of Alphabet to $132.50 in a research note on Thursday, May 26th. Finally, 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 note 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $147.36.

Alphabet Stock Down 2.5 %

Shares of GOOGL traded down $2.96 during mid-day trading on Friday, hitting $117.21. 21,726,602 shares of the company's stock were exchanged, compared to its average volume of 37,270,340. The company has a 50-day simple moving average of $156.06 and a 200 day simple moving average of $137.23. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The company has a market cap of $1.54 trillion, a PE ratio of 21.81, a P/E/G ratio of 1.94 and a beta of 1.08. Alphabet has a 52 week low of $101.88 and a 52 week high of $151.55.

Alphabet (NASDAQ:GOOGL - Get Rating) last released its 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 $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the company posted $27.26 earnings per share. On average, research analysts forecast that Alphabet will post 5.2 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the company's stock in a transaction that occurred 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 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 this link. In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the company's stock in a transaction on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 20 shares of the firm's stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the sale, the director now owns 565 shares of the company's stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold 42,852 shares of company stock worth $15,750,955 in the last ninety days. Insiders own 11.44% of the company's stock.