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

In a report released today, Brian White from Monness maintained a Buy rating on Alphabet Class A (GOOGLResearch Report), with a price target of $135.00. The company’s shares opened today at $102.93.

White covers the Technology sector, focusing on stocks such as Meta Platforms, Alphabet Class A, and Salesforce. According to TipRanks, White has an average return of 18.0% and a 64.08% success rate on recommended stocks.

Currently, the analyst consensus on Alphabet Class A is a Strong Buy with an average price target of $129.17, implying a 25.49% upside from current levels. In a report released today, Goldman Sachs also maintained a Buy rating on the stock with a $128.00 price target.

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Based on Alphabet Class A’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $69.09 billion and a net profit of $13.91 billion. In comparison, last year the company earned a revenue of $65.12 billion and had a net profit of $18.94 billion

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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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