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Alphabet Class A (GOOGL) Receives a New Rating from a Top Analyst

In a report released today, Laura Martin from Needham assigned a Buy rating to Alphabet Class A (GOOGLResearch Report), with a price target of $3200.00. The company’s shares closed last Tuesday at $2638.00, close to its 52-week high of $2687.98.

According to TipRanks.com, Martin is a top 100 analyst with an average return of 27.3% and a 65.1% success rate. Martin covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment, Tremor International, and CuriosityStream.

Currently, the analyst consensus on Alphabet Class A is a Strong Buy with an average price target of $2953.46, a 10.0% upside from current levels. In a report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $3000.00 price target.

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The company has a one-year high of $2687.98 and a one-year low of $1402.15. Currently, Alphabet Class A has an average volume of 1.39M.

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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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