Technology major Google (NASDAQ: GOOGL) recently announced that it has released the beta 3 version of Android 13. Shares of the company declined about 2% to close at $2,296.71 on Thursday.
The company said that the beta 3 version has reached platform stability, denoting that there won’t be any significant changes to Android 13’s Application Programme Interfaces (API).
“We’re asking all app and game developers to start your final compatibility testing now and prepare to publish your compatibility updates as soon as possible ahead of the final release,” the company said in a blog post.
The first developer beta of Android 13 was released in February, while the second public beta was released in May. The latest beta version is focused on privacy and security enhancement along with some visual changes.
Stock Rating
Recently, Wolfe Research analyst Deepak Mathivanan reiterated a Buy rating on the stock. The analyst, however, lowered the price target from $2,900 to $2,800, which implies upside potential of 21.9% from current levels.
Consensus among analysts is a Strong Buy based on 30 unanimous Buys. GOOGL’s average price target of $3,245.48 implies upside potential of 41.3% from current levels. Shares have declined 5.7% over the past year.
Investors’ Sentiment
TipRanks’ Stock Investors tool shows that top investors currently have a Very Positive stance on GOOGL, as 88.1% of the top portfolios tracked by TipRanks increased their exposure to GOOGL stock over the past 30 days.
Conclusion
With the launch of the beta 3 version of Android 13, Google has laid down the path for a new and improved version of its wildly popular operating system.
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