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Alphabet Class C (GOOG) Gets a Buy Rating from J.P. Morgan

In a report released today, Doug Anmuth from J.P. Morgan maintained a Buy rating on Alphabet Class C (GOOGResearch Report), with a price target of $140.00. The company’s shares closed last Wednesday at $111.10.

According to TipRanks.com, Anmuth is a 5-star analyst with an average return of 15.9% and a 56.3% success rate. Anmuth covers the Technology sector, focusing on stocks such as Spotify Technology SA, Fiverr International, and Alphabet Class A.

Alphabet Class C has an analyst consensus of Strong Buy, with a price target consensus of $145.10, implying a 32.4% upside from current levels. In a report issued on July 13, Cowen & Co. also maintained a Buy rating on the stock with a $150.00 price target.

See the top stocks recommended by analysts >>

Alphabet Class C’s market cap is currently $1385.7B and has a P/E ratio of 19.07.

Based on the recent corporate insider activity of 271 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 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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