Alphabet Inc (NASDAQ:GOOGL) Stock Upgrade
In recent note revealed to clients and investors on 9 December, investment analysts at the Nomura equity division upgraded shares of Alphabet Inc (NASDAQ:GOOGL) to a respectable “Top Pick” rating. They now have a TP set at $900.00 on GOOGL equating to 19.41% more upside.
From a total of 46 analysts covering Google (NASDAQ:GOOGL) stock, 46 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 94% of the ratings are positive. The highest target price is $950 while the lowest target price is $705. The mean of all analyst targets is $846.76 with a 11.04% above today’s ($762.55) stock price. Google was the topic of 50 analyst reports since August 8, 2015 according to the firm StockzIntelligence Inc. Axiom Capital maintained shares on November 3 with “Buy” rating. FBR Capital maintained shares with “Outperform” rating and $809 target share price in a report from an October 23. Rosenblatt maintained GOOGL stock in a recent report from October 23 with “Buy” rating. Piper Jaffray maintained the rating on October 23. Piper Jaffray has a “Overweight” rating and a $812 price target on shares. Finally, Jefferies maintained the stock with “Buy” rating in a report issued on an October 23.
The stock decreased 1.62% or $12.59 during the last trading session, striking $762.55. Approximately 2.27M shares of stock traded hands or 18.23% up from the average. Alphabet Inc (NASDAQ:GOOGL) has risen 44.86% since May 6, 2015 and is uptrending. It has outperformed by 45.66% the S&P500.
Alphabet Inc is a collection of Companies. The company has a market cap of $532.87 billion. The Company’s collection include Calico, Google’s health and longevity effort; Nest its connected home business; Fiber, its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital, and incubator projects, such as Google X. It has 35.87 P/E ratio. These will be managed separately in Alphabet.
According to Zacks Investment Research, “Alphabet Inc. is engaged in technology business. The Company provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce and hardware products through its subsidiaries. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California.” Get a free copy of the Zacks research report on Alphabet Inc (GOOGL).