Alphabet Class C (GOOG) Initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Benjamin Black CFA initiated coverage with a Buy rating on Alphabet Class C (GOOGResearch Report) on March 11 and set a price target of $3150.00. The company’s shares closed last Friday at $2609.51.

According to TipRanks.com, CFA is a 2-star analyst with an average return of 0.0% and a 50.0% success rate. CFA covers the Technology sector, focusing on stocks such as Uber Technologies, Meta Platforms, and Match Group.

Currently, the analyst consensus on Alphabet Class C is a Strong Buy with an average price target of $3444.55.

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Based on Alphabet Class C’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $75.33 billion and net profit of $20.64 billion. In comparison, last year the company earned revenue of $56.9 billion and had a net profit of $15.23 billion.

Based on the recent corporate insider activity of 269 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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