After Monness and Credit Suisse gave Alphabet Class A (NASDAQ: GOOGL) a Buy rating last month, the company received another Buy, this time from Tigress Financial. Analyst Ivan Feinseth reiterated a Buy rating on Alphabet Class A today. The company’s shares closed last Friday at $2430.00, close to its 52-week high of $2436.00.
According to TipRanks.com, Feinseth is a top 100 analyst with an average return of 20.1% and a 71.9% success rate. Feinseth covers the Technology sector, focusing on stocks such as Hims & Hers Health, Cisco Systems, and Microsoft.
Alphabet Class A has an analyst consensus of Strong Buy, with a price target consensus of $2785.97, implying a 14.4% upside from current levels. In a report issued on May 28, Evercore ISI also maintained a Buy rating on the stock with a $2825.00 price target.
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Alphabet Class A’s market cap is currently $1631.9B and has a P/E ratio of 32.10. The company has a Price to Book ratio of 7.84.
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Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google accounts for 99% of Alphabet’s revenue, of which, substantial revenue is generated from online ads. Google’s other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud services fees and other licensing revenue. Google also sells hardware products like Chromebooks, the Pixel smartphone, and smart homes products, which include Nest and Google Home. Alphabet’s Other Bets business is comprised of moonshot investments in Access, Calico, CapitalG, GV, Verily, Waymo, X and others.
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