Needham & Company LLC Reiterates “Buy” Rating for Alphabet Inc. (GOOGL)
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Friday. They presently have a $900.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 12.40% from the company’s previous close.
A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $950.00 target price on shares of Alphabet in a report on Friday, September 9th. Wedbush lowered shares of Alphabet from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $7.20 to $800.00 in a report on Tuesday, September 27th. Susquehanna reiterated a “positive” rating and issued a $930.00 price objective on shares of Alphabet in a report on Monday, July 18th. Jefferies Group reiterated a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a report on Monday, July 18th. Finally, Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $803.74 price objective for the company. in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, forty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $926.06.
Shares of Alphabet (NASDAQ:GOOGL) traded down 0.30% on Friday, reaching $800.71. 1,163,129 shares of the company’s stock were exchanged. The stock has a market cap of $550.31 billion, a P/E ratio of 31.02 and a beta of 1.00. Alphabet has a 52-week low of $662.36 and a 52-week high of $819.06. The company’s 50 day moving average price is $799.80 and its 200-day moving average price is $759.50.
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Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities analysts forecast that Alphabet will post $34.11 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the last quarter. Archford Capital Strategies LLC increased its stake in shares of Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock valued at $104,000 after buying an additional 34 shares during the last quarter. Roble Belko & Company Inc increased its stake in shares of Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock valued at $108,000 after buying an additional 115 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock valued at $112,000 after buying an additional 3 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new stake in shares of Alphabet during the second quarter valued at $117,000. Institutional investors own 34.12% of the company’s stock.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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