Nomura Keeps Their Buy Rating on Alphabet (GOOGL)


Nomura analyst Mark Kelley maintained a Buy rating on Alphabet (GOOGL) on March 27 and set a price target of $1680.00. The company’s shares closed last Friday at $1110.26.

According to TipRanks.com, Kelley is a 3-star analyst with an average return of 0.3% and a 39.7% success rate. Kelley covers the Technology sector, focusing on stocks such as Spotify Technology SA, IAC/InterActiveCorp, and ANGI Homeservices.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alphabet with a $1592.97 average price target, implying a 41.3% upside from current levels. In a report issued on March 13, Independent Research also upgraded the stock to Buy with a $1520.00 price target.

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Based on Alphabet’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $46.08 billion and net profit of $10.67 billion. In comparison, last year the company earned revenue of $39.28 billion and had a net profit of $8.95 billion.

Based on the recent corporate insider activity of 75 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 GOOGL 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, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube. The Other Bets segment consists of businesses such as Access, Calico, CapitalG, GV, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

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