Alphabet (GOOGL) Coverage Initiated at Evercore ISI

Evercore ISI started coverage on shares of Alphabet (NASDAQ:GOOGL) in a research note issued on Tuesday. The firm set an “outperform” rating on the information services provider’s stock.

Several other brokerages have also issued reports on GOOGL. UBS reaffirmed an “overweight” rating on shares of Alphabet in a report on Thursday, August 24th. Stifel Nicolaus lifted their price target on shares of Alphabet from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, October 30th. Bank of America reaffirmed a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a report on Tuesday, September 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a report on Saturday, August 26th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $1,150.00 price target on shares of Alphabet in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,089.17.

Alphabet (GOOGL) opened at $1,032.72 on Tuesday. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. Alphabet has a 1-year low of $773.53 and a 1-year high of $1,080.00. The company has a market cap of $708,419.13, a PE ratio of 34.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.89.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same period last year, the firm earned $9.06 EPS. equities research analysts predict that Alphabet will post 32.34 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in GOOGL. State of Alaska Department of Revenue bought a new stake in shares of Alphabet in the 2nd quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Alphabet in the 1st quarter worth $108,000. Parkside Financial Bank & Trust grew its stake in shares of Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares in the last quarter. Odey Holdings AG grew its stake in shares of Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Finally, Stelac Advisory Services LLC bought a new stake in shares of Alphabet in the 3rd quarter worth $126,000. Institutional investors own 33.62% of the company’s stock.

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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)

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