Alphabet (GOOGL) Received its Third Buy in a Row

After Monness and Needham gave Alphabet (NASDAQ: GOOGL) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Brian Fitzgerald maintained a Buy rating on Alphabet today and set a price target of $1750.00. The company’s shares closed last Friday at $1461.76.

According to TipRanks.com, Fitzgerald is a top 25 analyst with an average return of 31.2% and a 78.3% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as LiveRamp Holdings, ANGI Homeservices, and Uber Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alphabet with a $1726.86 average price target, which is a 15.4% upside from current levels. In a report issued on July 16, SunTrust Robinson also maintained a Buy rating on the stock with a $1805.00 price target.

See today’s analyst top recommended stocks >>

Alphabet’s market cap is currently $1050.1B and has a P/E ratio of 30.80. The company has a Price to Book ratio of 5.74.

Based on the recent corporate insider activity of 72 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 GOOGL 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, 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.