$51.41 Billion in Sales Expected for Alphabet Inc. (NASDAQ:GOOGL) This Quarter

Wall Street brokerages forecast that Alphabet Inc. (NASDAQ:GOOGL) will post $51.41 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Alphabet’s earnings. The lowest sales estimate is $47.86 billion and the highest is $53.31 billion. Alphabet posted sales of $38.01 billion during the same quarter last year, which suggests a positive year over year growth rate of 35.3%. The firm is scheduled to issue its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Alphabet will report full-year sales of $205.21 billion for the current year, with estimates ranging from $193.55 billion to $209.94 billion. For the next financial year, analysts anticipate that the firm will report sales of $239.32 billion, with estimates ranging from $226.83 billion to $246.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Alphabet.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $19.89 by $7.37. The company had revenue of $50.95 billion for the quarter, compared to analysts’ expectations of $46.07 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. During the same period in the previous year, the business posted $10.13 earnings per share.

GOOGL has been the topic of several research reports. Piper Sandler boosted their price target on Alphabet from $2,635.00 to $3,034.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Canaccord Genuity boosted their price target on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Jefferies Financial Group boosted their price target on Alphabet from $2,950.00 to $3,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Wedbush upped their target price on Alphabet from $3,127.00 to $3,424.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Finally, KGI Securities started coverage on Alphabet in a report on Wednesday, June 2nd. They issued an “outperform” rating and a $3,000.00 target price on the stock. Three analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $2,841.72.

Shares of NASDAQ:GOOGL traded up $4.24 during midday trading on Tuesday, hitting $2,850.89. 970,164 shares of the stock were exchanged, compared to its average volume of 1,521,662. The stock has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 1.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15. The business’s 50-day moving average price is $2,721.31 and its 200 day moving average price is $2,428.14. Alphabet has a 12 month low of $1,402.15 and a 12 month high of $2,925.07.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Resonant Capital Advisors LLC grew its position in shares of Alphabet by 1.5% in the 2nd quarter. Resonant Capital Advisors LLC now owns 269 shares of the information services provider’s stock worth $657,000 after buying an additional 4 shares during the last quarter. Allied Investment Advisors LLC grew its position in shares of Alphabet by 3.5% in the 2nd quarter. Allied Investment Advisors LLC now owns 119 shares of the information services provider’s stock worth $291,000 after buying an additional 4 shares during the last quarter. Capital Investment Counsel Inc grew its position in shares of Alphabet by 0.3% in the 2nd quarter. Capital Investment Counsel Inc now owns 1,381 shares of the information services provider’s stock worth $3,372,000 after buying an additional 4 shares during the last quarter. New Potomac Partners LLC grew its position in shares of Alphabet by 2.3% in the 2nd quarter. New Potomac Partners LLC now owns 176 shares of the information services provider’s stock worth $430,000 after buying an additional 4 shares during the last quarter. Finally, Atlas Private Wealth Advisors grew its position in shares of Alphabet by 2.9% in the 2nd quarter. Atlas Private Wealth Advisors now owns 144 shares of the information services provider’s stock worth $352,000 after buying an additional 4 shares during the last quarter. 34.43% of the stock is owned by institutional investors and hedge funds.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Earnings History and Estimates for Alphabet (NASDAQ:GOOGL)

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