Analysts forecast that Alphabet Inc (NASDAQ:GOOGL) will announce sales of $32.71 billion for the current quarter, according to Zacks. Eleven analysts have made estimates for Alphabet’s earnings, with estimates ranging from $32.24 billion to $33.69 billion. Alphabet posted sales of $27.16 billion during the same quarter last year, which would indicate a positive year over year growth rate of 20.4%. The company is expected to issue its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Alphabet will report full-year sales of $132.41 billion for the current fiscal year, with estimates ranging from $130.43 billion to $135.06 billion. For the next year, analysts forecast that the business will post sales of $155.66 billion, with estimates ranging from $152.67 billion to $160.03 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Alphabet.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%.

A number of analysts have weighed in on GOOGL shares. Morgan Stanley raised their price target on Alphabet from $1,400.00 to $1,450.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Deutsche Bank raised their price target on Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Bank of America restated a “buy” rating and issued a $1,350.00 price target on shares of Alphabet in a research note on Monday, July 22nd. Stifel Nicolaus restated a “hold” rating and issued a $1,287.00 price target on shares of Alphabet in a research note on Tuesday, July 23rd. Finally, Oppenheimer set a $1,370.00 price target on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $1,371.05.

Alphabet stock traded down $16.91 during midday trading on Thursday, reaching $1,183.53. The company’s stock had a trading volume of 1,009,767 shares, compared to its average volume of 1,640,944. Alphabet has a fifty-two week low of $977.66 and a fifty-two week high of $1,296.97. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The company has a market cap of $825.56 billion, a P/E ratio of 24.91, a P/E/G ratio of 1.30 and a beta of 0.97. The business has a 50-day simple moving average of $1,168.00 and a 200-day simple moving average of $1,158.92.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Alphabet by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,536,432 shares of the information services provider’s stock valued at $24,402,449,000 after acquiring an additional 302,354 shares in the last quarter. Invesco Ltd. increased its position in Alphabet by 37.1% in 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. Northern Trust Corp increased its position in Alphabet by 0.9% in the 2nd quarter. Northern Trust Corp now owns 3,876,945 shares of the information services provider’s stock valued at $4,197,956,000 after acquiring an additional 33,408 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in Alphabet by 205,910.9% in 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. Finally, Morgan Stanley increased its position in Alphabet by 3.0% in the 2nd quarter. Morgan Stanley now owns 2,301,237 shares of the information services provider’s stock valued at $2,491,779,000 after acquiring an additional 66,773 shares in the last quarter. Institutional investors own 34.09% 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.

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