MKM Partners Reaffirms “Buy” Rating for Alphabet (GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “buy” rating restated by analysts at MKM Partners in a research report issued on Wednesday, MarketBeat Ratings reports. They presently have a $1,355.00 target price on the information services provider’s stock, up from their previous target price of $1,210.00. MKM Partners’ price objective points to a potential upside of 22.08% from the stock’s previous close.

GOOGL has been the topic of several other reports. CIBC reiterated an “outperform” rating and set a $1,180.00 target price (up from $1,050.00) on shares of Alphabet in a research report on Friday, October 27th. Cowen increased their target price on Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Citigroup reiterated a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating and set a $1,360.00 target price (up from $1,340.00) on shares of Alphabet in a research report on Friday, February 2nd. Finally, Goldman Sachs Group upped their price target on Alphabet from $1,125.00 to $1,175.00 in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,161.00.

Alphabet (GOOGL) opened at $1,109.90 on Wednesday. Alphabet has a 12-month low of $824.30 and a 12-month high of $1,198.00. The firm has a market capitalization of $773,814.56, a PE ratio of 34.79, a P/E/G ratio of 1.15 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. analysts predict that Alphabet will post 42.52 EPS for the current fiscal year.

Alphabet declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in Alphabet during the 4th quarter worth approximately $108,000. Odey Holdings AG lifted its holdings in Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares during the last quarter. Stuart Chaussee & Associates Inc. bought a new position in Alphabet during the 4th quarter worth approximately $123,000. Stelac Advisory Services LLC bought a new position in Alphabet during the 3rd quarter worth approximately $126,000. Finally, Lee Financial Co lifted its holdings in Alphabet by 500.0% during the 4th quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock worth $126,000 after buying an additional 100 shares during the last quarter. 33.29% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “MKM Partners Reaffirms “Buy” Rating for Alphabet (GOOGL)” was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://stocknewstimes.com/2018/02/23/mkm-partners-reaffirms-buy-rating-for-alphabet-googl.html.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply