UBS analyst Eric Sheridan maintained a Buy rating on Alphabet Class C (GOOG) today and set a price target of $2050.00. The company’s shares closed last Thursday at $1567.24.
According to TipRanks.com, Sheridan is a top 100 analyst with an average return of 19.9% and a 72.1% success rate. Sheridan covers the Technology sector, focusing on stocks such as Fiverr International, Uber Technologies, and Alphabet Class A.
Currently, the analyst consensus on Alphabet Class C is a Strong Buy with an average price target of $1845.83, implying a 21.2% upside from current levels. In a report released yesterday, Raymond James also assigned a Buy rating to the stock with a $1800.00 price target.
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Based on Alphabet Class C’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $38.3 billion and net profit of $6.96 billion. In comparison, last year the company earned revenue of $38.94 billion and had a net profit of $9.95 billion.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GOOG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Google’s other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue. Sales of hardware such as Chromebooks, the Pixel smartphone, and smart homes products, which include Nest and Google Home, also contribute to other revenue. Alphabet’s moonshot investments are in its other bets segment, where it bets on technology to enhance health (Verily), faster Internet access to homes (Google Fiber), self-driving cars (Waymo), and more. Alphabet’s operating margin has been 25%-30%, with Google at 30% and other bets operating at a loss.