Alphabet (NASDAQ:GOOGL) Earns “Buy” Rating from Needham & Company LLC

Alphabet (NASDAQ:GOOGL)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued on Tuesday, AnalystRatings.com reports. They currently have a $1,800.00 price objective on the information services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 20.03% from the stock’s previous close.

A number of other analysts have also recently weighed in on GOOGL. Royal Bank of Canada increased their price objective on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. UBS Group decreased their price objective on Alphabet from $1,675.00 to $1,530.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Goldman Sachs Group increased their price objective on Alphabet from $1,425.00 to $1,775.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Nomura Instinet increased their price objective on Alphabet from $1,680.00 to $1,700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Pivotal Research decreased their price objective on Alphabet from $1,700.00 to $1,425.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Three research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,536.87.

NASDAQ:GOOGL opened at $1,499.65 on Tuesday. The stock has a 50-day simple moving average of $1,425.18 and a 200-day simple moving average of $1,356.26. The stock has a market cap of $1,003.40 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.22 and a beta of 1.06. Alphabet has a 1 year low of $1,008.87 and a 1 year high of $1,530.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). The firm had revenue of $33.71 billion during the quarter, compared to analyst estimates of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same period last year, the company earned $9.50 earnings per share. On average, equities research analysts predict that Alphabet will post 41.23 EPS for the current year.

A number of institutional investors have recently modified their holdings of GOOGL. Norges Bank purchased a new position in Alphabet in the fourth quarter valued at about $6,806,866,000. Advisor Group Holdings Inc. purchased a new position in Alphabet in the first quarter valued at about $79,769,000. Girard Partners LTD. raised its position in Alphabet by 9,648.1% in the first quarter. Girard Partners LTD. now owns 505,535 shares of the information services provider’s stock valued at $6,229,000 after purchasing an additional 500,349 shares during the period. Wellington Management Group LLP raised its position in Alphabet by 12.1% in the first quarter. Wellington Management Group LLP now owns 4,485,396 shares of the information services provider’s stock valued at $5,211,807,000 after purchasing an additional 483,219 shares during the period. Finally, Franklin Resources Inc. raised its position in Alphabet by 44.3% in the first quarter. Franklin Resources Inc. now owns 866,062 shares of the information services provider’s stock valued at $1,006,266,000 after purchasing an additional 265,700 shares during the period. Hedge funds and other institutional investors own 34.22% of the company’s stock.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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