Goldman Sachs Believes Alphabet Class A (NASDAQ: GOOGL) Won’t Stop Here

Goldman Sachs analyst Heather Bellini maintained a Buy rating on Alphabet Class A (GOOGLResearch Report) today and set a price target of $2250.00. The company’s shares closed last Friday at $1610.99, close to its 52-week high of $1726.10.

According to TipRanks.com, Bellini is a 5-star analyst with an average return of 16.8% and a 76.2% success rate. Bellini covers the Technology sector, focusing on stocks such as Zoom Video Communications, CrowdStrike Holdings, and Rackspace Technology.

Currently, the analyst consensus on Alphabet Class A is a Strong Buy with an average price target of $1881.07, representing a 12.8% upside. In a report issued on October 16, Bernstein also maintained a Buy rating on the stock with a $1800.00 price target.

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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 58 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.

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.