Raymond James Believes Alphabet Class C (NASDAQ: GOOG) Still Has Room to Grow

In a report released today, Aaron Kessler from Raymond James maintained a Buy rating on Alphabet Class C (GOOGResearch Report), with a price target of $3200.00. The company’s shares closed last Tuesday at $2735.93, close to its 52-week high of $2800.22.

According to TipRanks.com, Kessler is a top 100 analyst with an average return of 28.7% and a 74.0% success rate. Kessler covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Viant Technology.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alphabet Class C with a $2941.00 average price target, a 5.0% upside from current levels. In a report issued on July 14, Cowen & Co. also maintained a Buy rating on the stock with a $2900.00 price target.

See today’s analyst top recommended stocks >>

Alphabet Class C’s market cap is currently $1833.5B and has a P/E ratio of 36.50.

Based on the recent corporate insider activity of 120 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 GOOG 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 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.