Alphabet (NASDAQ:GOOGL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $1,199.00 target price on the information services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.09% from the company’s previous close.

According to Zacks, “Alphabet's strong advertising revenues and improving paid click growth remain the growth drivers. Its focus on innovation, AI, cloud, home automation space, strategic acquisitions and Android OS should continue to generate strong cash flows. Alphabet has shown good execution to date, more or less maintaining its dominant share in a competitive, fast-growing search market. Its diversification strategy is also positive, but requires significant investment and involves uncertain payback periods, particularly since these efforts are at the cutting edge of technology. On a year to date basis, the stock has outperformed the industry it belongs to. However, increasing litigation issues could continue to impact the company’s profits.”

Other equities analysts also recently issued reports about the stock. SunTrust Banks reiterated a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Tuesday, October 24th. Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 target price for the company. in a report on Friday, October 6th. Citigroup reiterated a “buy” rating and issued a $1,180.00 target price on shares of Alphabet in a report on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $1,150.00 target price on shares of Alphabet in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus target price of $1,091.54.

Shares of Alphabet (NASDAQ GOOGL) opened at $1,060.20 on Tuesday. Alphabet has a one year low of $789.62 and a one year high of $1,086.49. The firm has a market cap of $733,460.00, a PE ratio of 35.32, a P/E/G ratio of 1.80 and a beta of 0.90. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. During the same period in the prior year, the firm earned $9.06 earnings per share. analysts anticipate that Alphabet will post 32.34 EPS for the current year.

A number of hedge funds have recently made changes to their positions in GOOGL. Vanguard Group Inc. increased its position in shares of Alphabet by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after purchasing an additional 662,279 shares during the last quarter. BlackRock Inc. boosted its holdings in Alphabet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares during the period. FMR LLC boosted its holdings in Alphabet by 2.1% during the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares during the period. State Street Corp boosted its holdings in Alphabet by 1.2% during the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after acquiring an additional 142,214 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Alphabet by 2.4% during the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after acquiring an additional 102,133 shares during the period. Institutional investors own 33.55% of the company’s stock.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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