New Buy Rating for Alphabet Class A (GOOGL), the Technology Giant

In a report released today, Brian White from Monness maintained a Buy rating on Alphabet Class A (GOOGLResearch Report), with a price target of $145.00. The company’s shares closed last Friday at $98.74.

According to TipRanks, White is a 5-star analyst with an average return of 9.8% and a 55.84% success rate. White covers the Technology sector, focusing on stocks such as Apple, Alphabet Class A, and Salesforce.

Alphabet Class A has an analyst consensus of Strong Buy, with a price target consensus of $142.91, implying a 44.73% upside from current levels. In a report released on September 14, Goldman Sachs also reiterated a Buy rating on the stock with a $150.00 price target.

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GOOGL market cap is currently $1290.8B and has a P/E ratio of 18.37.

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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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