In a report released today, Laura Martin from Needham assigned a Buy rating to Alphabet Class A (GOOGL), with a price target of $2500.00. The company’s shares closed last Wednesday at $2239.03, close to its 52-week high of $2244.50.
According to TipRanks.com, Martin is a top 100 analyst with an average return of 31.0% and a 66.8% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, World Wrestling, and CuriosityStream.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alphabet Class A with a $2388.47 average price target, which is a 7.9% upside from current levels. In a report issued on April 5, Evercore ISI also initiated coverage with a Buy rating on the stock with a $2525.00 price target.
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Alphabet Class A’s market cap is currently $1509.4B and has a P/E ratio of 37.70. The company has a Price to Book ratio of 7.45.
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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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