Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on Alphabet Inc (GOOGL) today and set a price target of $1287. The company’s shares opened today at $1267.34, close to its 52-week high of $1291.44.
Devitt said:
“We expect margin trends to begin to stabilize in 2019 as headcount growth decelerates and hardware and YouTube content costs normalize. With GOOGL shares currently near our $1,287 Target Price, we plan to review our estimates and valuation with the 1Q update.”
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 22.1% and a 71.1% success rate. Devitt covers the Technology sector, focusing on stocks such as Lyft Inc Class A, Paypal Holdings, and Eventbrite Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alphabet Inc with a $1351.83 average price target, implying a 6.7% upside from current levels. In a report issued on April 11, Cowen & Co. also maintained a Buy rating on the stock with a $1420 price target.
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Alphabet Inc’s market cap is currently $876.4B and has a P/E ratio of 29.00. The company has a Price to Book ratio of 4.96.
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