In a report issued on March 27, Jason Helfstein from Oppenheimer maintained a Buy rating on Alphabet Class C (GOOG), with a price target of $1465.00. The company’s shares closed last Tuesday at $1917.24, close to its 52-week high of $1934.86.
According to TipRanks.com, Helfstein is a top 25 analyst with an average return of 46.7% and a 76.6% success rate. Helfstein covers the Technology sector, focusing on stocks such as Spotify Technology SA, Opendoor Technologies, and Fiverr International.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alphabet Class C with a $1954.38 average price target, implying a 3.5% upside from current levels. In a report issued on March 18, J.P. Morgan also maintained a Buy rating on the stock with a $1340.00 price target.
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The company has a one-year high of $1934.86 and a one-year low of $1013.54. Currently, Alphabet Class C has an average volume of 1.85M.
Based on the recent corporate insider activity of 27 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.
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