Alphabet (NASDAQ:GOOGL) Given a $1,360.00 Price Target by Monness Crespi & Hardt Analysts

Alphabet (NASDAQ:GOOGL) has been given a $1,360.00 price objective by research analysts at Monness Crespi & Hardt in a report issued on Monday, TipRanks reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Monness Crespi & Hardt’s target price suggests a potential upside of 8.14% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Macquarie set a $1,300.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Canaccord Genuity increased their target price on Alphabet from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group increased their target price on Alphabet from $1,450.00 to $1,500.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, July 13th. Finally, FBN Securities set a $1,400.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $1,382.73.

Alphabet stock traded up $16.43 during trading hours on Monday, hitting $1,257.63. The stock had a trading volume of 1,175,410 shares, compared to its average volume of 1,545,063. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The stock has a market capitalization of $868.26 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.47 and a beta of 0.99. Alphabet has a 1-year low of $977.66 and a 1-year high of $1,296.97. The stock’s fifty day moving average is $1,220.34 and its two-hundred day moving average is $1,176.78.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. As a group, sell-side analysts anticipate that Alphabet will post 51.22 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thoroughbred Financial Services LLC raised its stake in Alphabet by 205,910.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after acquiring an additional 3,391,353 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Alphabet by 2,010.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,214,432 shares of the information services provider’s stock valued at $2,397,786,000 after acquiring an additional 2,109,515 shares in the last quarter. Invesco Ltd. raised its stake in Alphabet by 37.1% during the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock valued at $5,145,551,000 after acquiring an additional 1,285,824 shares in the last quarter. Packer & Co Ltd raised its stake in Alphabet by 4,018.6% during the 2nd quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock valued at $25,202,000 after acquiring an additional 935,325 shares in the last quarter. Finally, Veritas Asset Management LLP raised its stake in shares of Alphabet by 52.9% in the 2nd quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock worth $1,114,175,000 after buying an additional 355,900 shares in the last quarter. 33.53% of the stock is currently owned by institutional investors and hedge funds.

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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