Alphabet Inc Class A (NASDAQ:GOOGL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Alphabet suffers from litigation issues which might hurt its profitability. Moreover, it's increased spending on its consumer gadgets, YouTube video app and cloud computing services remain concerns. In addition, rising competition in the online advertisement market poses serious risk to the company's position. However, it has outperformed the industry it belongs to on a 12-months basis. The company's robust mobile growth, strong network advertising revenues, cloud, hardware and Play revenues are positives. Alphabet's focus on innovation, AI, cloud, home automation space, strategic acquisitions and Android OS should continue to aid its top-line growth. Further, its partnership with PayPal remains positive. Also, the company has shown good execution to date, more or less maintaining its dominant share in a competitive, fast-growing search market.”
Other equities analysts also recently issued research reports about the stock. Wells Fargo & Co reaffirmed an “outperform” rating and set a $1,400.00 target price (up previously from $1,275.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. B. Riley raised their target price on shares of Alphabet Inc Class A from $1,350.00 to $1,475.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Barclays raised their target price on shares of Alphabet Inc Class A from $1,250.00 to $1,350.00 and gave the company an “overweight” rating in a research note on Friday, July 13th. Credit Suisse Group reaffirmed an “outperform” rating and set a $1,375.00 target price (up previously from $1,330.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $1,285.00 target price on shares of Alphabet Inc Class A in a research note on Sunday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-one have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $1,317.07.
Shares of GOOGL opened at $1,194.06 on Tuesday. The company has a quick ratio of 4.13, a current ratio of 4.15 and a debt-to-equity ratio of 0.02. Alphabet Inc Class A has a one year low of $941.95 and a one year high of $1,291.44. The stock has a market capitalization of $830.88 billion, a price-to-earnings ratio of 29.16, a P/E/G ratio of 1.51 and a beta of 1.10.
Alphabet Inc Class A (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.51 by $2.24. Alphabet Inc Class A had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $26.24 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same period last year, the business posted $5.01 earnings per share. sell-side analysts predict that Alphabet Inc Class A will post 42.46 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in GOOGL. Well Done LLC bought a new stake in Alphabet Inc Class A in the 1st quarter worth approximately $107,000. Westchester Capital Management Inc. boosted its stake in shares of Alphabet Inc Class A by 1,262.5% during the 1st quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock worth $113,000 after acquiring an additional 101 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Alphabet Inc Class A during the 4th quarter worth $138,000. Point72 Hong Kong Ltd purchased a new position in shares of Alphabet Inc Class A during the 2nd quarter worth $132,000. Finally, KHP Capital LLC purchased a new position in shares of Alphabet Inc Class A during the 1st quarter worth $124,000. 33.56% of the stock is owned by institutional investors.
About Alphabet Inc Class A
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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