Piper Jaffray Companies Reiterates “Buy” Rating for Alphabet Inc. (NASDAQ:GOOGL)

Piper Jaffray Companies reaffirmed their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research report report published on Thursday, October 19th. Piper Jaffray Companies currently has a $1,150.00 target price on the information services provider’s stock.

GOOGL has been the subject of a number of other reports. J P Morgan Chase & Co increased their price objective on Alphabet from $1,075.00 to $1,115.00 and gave the stock an overweight rating in a research report on Saturday, July 22nd. Vetr raised Alphabet from a hold rating to a buy rating and set a $1,020.52 price objective for the company in a research report on Tuesday, July 25th. UBS AG reaffirmed an overweight rating on shares of Alphabet in a research report on Thursday, August 24th. Bank of America Corporation reaffirmed a buy rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Tuesday, September 26th. Finally, FBR & Co reaffirmed an outperform rating and set a $1,050.00 price objective (up from $1,032.00) on shares of Alphabet in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $1,083.02.

Alphabet (NASDAQ GOOGL) traded up 4.26% on Thursday, hitting $1033.67. 5,184,143 shares of the company’s stock traded hands. The stock has a market cap of $716.21 billion, a P/E ratio of 37.46 and a beta of 0.96. Alphabet has a 12 month low of $743.59 and a 12 month high of $1,063.62. The stock has a 50 day moving average price of $973.54 and a 200-day moving average price of $953.74.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.14. Alphabet had a return on equity of 14.59% and a net margin of 20.09%. The business had revenue of $22.27 billion for the quarter, compared to the consensus estimate of $21.94 billion. During the same quarter in the prior year, the business posted $9.06 EPS. Equities analysts predict that Alphabet will post $30.63 earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in Alphabet in the second quarter valued at approximately $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in Alphabet in the first quarter valued at approximately $108,000. Delta Asset Management LLC TN boosted its stake in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 2 shares during the period. Parkside Financial Bank & Trust boosted its stake in Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares during the period. Finally, Odey Holdings AG boosted its stake in Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after acquiring an additional 20 shares during the period. Institutional investors own 33.83% of the company’s stock.

Alphabet Company Profile

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)

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