Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reissued by B. Riley in a research report issued on Friday. They presently have a $1,200.00 target price on the information services provider’s stock, up from their prior target price of $1,050.00. B. Riley’s price target suggests a potential upside of 16.09% from the stock’s current price.
The analysts wrote, “We are increasing our FY17/FY18/FY19 GAAP EPS from $32.31/$43.34/$49.55 to $32.99/$43.78/$49.52. Our price target increases from $1,050 to $1,200 reflecting an 11.0x multiple on FY19 AEBITDA (11x FY18 prev.) for the core business and 7.0x 2019 revenue (7.0x 2018 rev) for “Other Bets.” Key Points Solid 3Q. Net revenues/GAAP EPS came in at $22.3B/$9.57 versus RILY at $21.8B/$8.63 and consensus of $21.9B/$8.32. Solid revenue out performance with inline GM, flat opex and lower than expected tax rate ($0.50 of beat) led to a nice EPS beat. Operating margins for Core also expanded Q/Q (Flat Y/Y), in part due to lower SBC. Management indicated the flat opex was in part due to timing of grants of stock, which weighs on 1H of the calendar year. Solid Revenue Growth.””
Other analysts also recently issued research reports about the company. MKM Partners reaffirmed a “buy” rating and set a $1,210.00 price objective (up previously from $1,170.00) on shares of Alphabet in a research note on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and set a $1,075.00 price objective on shares of Alphabet in a research note on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and issued a $1,200.00 price target on shares of Alphabet in a research note on Tuesday, July 4th. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,053.55 price target on the stock in a research note on Monday, July 3rd. Finally, UBS AG reissued a “buy” rating and issued a $1,080.00 price target (up previously from $1,050.00) on shares of Alphabet in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,083.46.
Alphabet (NASDAQ GOOGL) traded up 4.26% on Friday, reaching $1033.67. The company had a trading volume of 5,184,143 shares. The stock has a market capitalization of $716.21 billion, a price-to-earnings ratio of 37.46 and a beta of 0.96. The firm has a 50 day moving average price of $973.54 and a 200-day moving average price of $953.74. Alphabet has a 12 month low of $743.59 and a 12 month high of $1,063.62.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The business had revenue of $22.27 billion for the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.59% and a net margin of 20.09%. During the same quarter last year, the business posted $9.06 EPS. Analysts forecast that Alphabet will post $30.63 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Beech Hill Advisors Inc. increased its holdings in shares of Alphabet by 2.2% during the third quarter. Beech Hill Advisors Inc. now owns 6,766 shares of the information services provider’s stock worth $6,588,000 after buying an additional 143 shares in the last quarter. Conning Inc. increased its holdings in shares of Alphabet by 2.1% during the third quarter. Conning Inc. now owns 9,402 shares of the information services provider’s stock worth $9,155,000 after buying an additional 190 shares in the last quarter. Heritage Investors Management Corp increased its holdings in shares of Alphabet by 1.2% during the third quarter. Heritage Investors Management Corp now owns 22,343 shares of the information services provider’s stock worth $21,756,000 after buying an additional 260 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Alphabet by 2.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 115,533 shares of the information services provider’s stock worth $112,497,000 after buying an additional 2,995 shares in the last quarter. Finally, Hoertkorn Richard Charles increased its holdings in shares of Alphabet by 60.4% during the third quarter. Hoertkorn Richard Charles now owns 4,079 shares of the information services provider’s stock worth $3,972,000 after buying an additional 1,536 shares in the last quarter. Institutional investors and hedge funds own 33.83% of the company’s stock.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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