Alphabet (GOOGL) Earns “Outperform” Rating from William Blair
William Blair restated their outperform rating on shares of Alphabet (NASDAQ:GOOGL) in a report issued on Tuesday morning. William Blair also issued estimates for Alphabet’s Q1 2019 earnings at $10.85 EPS, Q2 2019 earnings at $11.88 EPS, Q3 2019 earnings at $12.66 EPS, Q4 2019 earnings at $12.68 EPS, FY2019 earnings at $48.06 EPS and FY2020 earnings at $56.63 EPS.
Several other research analysts have also recently issued reports on GOOGL. Zacks Investment Research upgraded shares of Alphabet from a hold rating to a buy rating and set a $1,208.00 target price on the stock in a report on Friday, January 11th. Credit Suisse Group cut their target price on shares of Alphabet from $1,450.00 to $1,400.00 and set an outperform rating on the stock in a report on Tuesday. Wedbush restated an outperform rating and issued a $1,350.00 target price on shares of Alphabet in a report on Tuesday. Citigroup cut their target price on shares of Alphabet from $1,350.00 to $1,325.00 and set a buy rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of Alphabet to $1,300.00 and set an outperform rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $1,320.71.
GOOGL stock opened at $1,102.38 on Tuesday. The company has a market cap of $781.39 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. Alphabet has a one year low of $977.66 and a one year high of $1,291.44. The company has a current ratio of 3.92, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.
Large investors have recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC boosted its holdings in shares of Alphabet by 8.9% during the 4th quarter. ETRADE Capital Management LLC now owns 5,752 shares of the information services provider’s stock valued at $6,011,000 after buying an additional 469 shares in the last quarter. Lee Capital Asset Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $5,841,000. Highstreet Asset Management Inc. boosted its holdings in shares of Alphabet by 38.1% during the 4th quarter. Highstreet Asset Management Inc. now owns 5,556 shares of the information services provider’s stock valued at $5,806,000 after buying an additional 1,532 shares in the last quarter. Windsor Creek Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $836,000. Finally, Costello Asset Management INC purchased a new position in shares of Alphabet in the 4th quarter worth about $1,719,000. Institutional investors and hedge funds own 33.41% 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.
Further Reading: Price-Sales Ratio
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