JMP Securities Increases Alphabet (NASDAQ:GOOGL) Price Target to $200.00

Alphabet (NASDAQ:GOOGL) had its target price boosted by equities researchers at JMP Securities from $160.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “market outperform” rating on the information services provider’s stock. JMP Securities’ price objective indicates a potential upside of 16.31% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. UBS Group lifted their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Wolfe Research lifted their price target on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup lifted their price target on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC lifted their price target on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group lifted their price target on Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Price Performance

Shares of GOOGL stock opened at $171.95 on Friday. The firm has a market cap of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet has a fifty-two week low of $103.54 and a fifty-two week high of $174.71. The business’s 50 day moving average price is $147.85 and its 200-day moving average price is $141.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same period last year, the company earned $1.05 EPS. On average, equities research analysts anticipate that Alphabet will post 6.79 earnings per share for the current year.

Insider Activity at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is owned by insiders.

Institutional Trading of Alphabet

Hedge funds have recently bought and sold shares of the stock. M. Kraus & Co raised its position in shares of Alphabet by 1.1% during the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after buying an additional 66 shares during the period. Wynn Capital LLC raised its position in shares of Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after buying an additional 67 shares during the period. Aire Advisors LLC raised its position in shares of Alphabet by 0.6% during the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares during the period. Henrickson Nauta Wealth Advisors Inc. raised its position in shares of Alphabet by 2.1% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock valued at $511,000 after buying an additional 68 shares during the period. Finally, Penbrook Management LLC raised its position in shares of Alphabet by 0.3% during the 1st quarter. Penbrook Management LLC now owns 23,170 shares of the information services provider’s stock valued at $3,497,000 after buying an additional 70 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.