After Merrill Lynch and Morgan Stanley gave Alphabet Class A (NASDAQ: GOOGL) a Buy rating last month, the company received another Buy, this time from Monness. Analyst Brian White maintained a Buy rating on Alphabet Class A today and set a price target of $1700.00. The company’s shares closed last Monday at $1529.95.
According to TipRanks.com, White is a top 25 analyst with an average return of 30.5% and a 78.0% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Slack Technologies, and Salesforce.
Alphabet Class A has an analyst consensus of Strong Buy, with a price target consensus of $1796.33, implying a 14.0% upside from current levels. In a report issued on October 12, Deutsche Bank also maintained a Buy rating on the stock with a $2020.00 price target.
Based on Alphabet Class A’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $38.3 billion and net profit of $6.96 billion. In comparison, last year the company earned revenue of $38.94 billion and had a net profit of $9.95 billion.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2020, Sundar Pichai, the CEO of GOOGL bought 2,918 shares for a total of $738,706.
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Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube. The Other Bets segment consists of businesses such as Access, Calico, CapitalG, GV, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.