Watch Out Below? Vetr Crowd Downgrades Alphabet To Sell
- Shares of Alphabet Inc (NASDAQ: GOOG) have gained more than 40 percent year-to-date on improved transparency and strong growth prospects for a large cap company of its size.
- However, the Vetr Crowd is bearish with a crowd sourced 2.5-star rating out of a possible five.
- The Vetr Crowd also has a crowd sourced price target of $709.98, representing a potential 4 percent downside to its current price.
When Google reported its first complete quarter under its new Alphabet structure, Wall Street analysts were for the most part bullish. Most notably, analysts at Deutsche Bank placed a new $900 price target on the stock while Goldman Sachs was less slightly less bullish with a $850 price target. In fact, most of Wall Street maintained Buy or Outperform ratings following the earnings print.
While many investors turn to Wall Street to guidance and analysis, many are also turning to Vetr for support. Vetr, a crowdsourced stock ratings platform, saw its crowd downgrade Alphabet to 2.5-stars from a previous three-star rating with a crowd sourced price target of $709.98.
Shares of Alphabet were trading at $738.27 on Thursday, indicating that the Vetr crowd is anticipating an approximate 4.5 percent decline in the stock.
49.1 percent of the Vetr crowd recommend a Sell rating on the Alphabet and 20 percent recommend a Hold rating. Only 30.9 percent of the crowd recommend a Buy rating. By comparison, the crowd is bullish on Apple Inc. (NASDAQ: AAPL) with a crowd sourced $129.46 price target – implying more than 10 percent upside while 72 percent of the crowd recommend a Buy rating on the stock.
Latest Ratings for GOOG
|Jul 2016||JP Morgan||Maintains||Overweight|
|Apr 2016||Deutsche Bank||Maintains||Buy|
|Feb 2016||Deutsche Bank||Maintains||Buy|
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