fbpx
QQQ
+ 2.62
345.12
+ 0.75%
DIA
+ 3.41
335.38
+ 1.01%
SPY
+ 2.83
419.77
+ 0.67%
TLT
+ 0.46
142.81
+ 0.32%
GLD
+ 0.19
165.95
+ 0.12%

Analyst Rating Updates For Alphabet Following Earnings Blowout

April 28, 2021 10:39 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Analyst Rating Updates For Alphabet Following Earnings Blowout

Alphabet Inc Class C (NASDAQ:GOOG) and Alphabet Inc Class A (NASDAQ:GOOGL) shares are both trading higher by 5% after the tech company reported better-than-expected first-quarter EPS and sales results. Alphabet also announced a $50 billion Class C Capital Stock buyback.

A number of analyst rating updates followed the earnings beat:

  • Keybanc analyst Justin Patterson maintains Alphabet with an Overweight and raises the price target from $2625 to $2681.
  • Needham analyst Laura Martin maintains Alphabet with a Buy and raises the price target from $2500 to $2700.
  • Barclays analyst Ross Sandler maintains Alphabet with an Overweight and raises the price target from $2500 to $3000.
  • Raymond James analyst Aaron Kessler maintains Alphabet with an Outperform and raises the price target from $2440 to $2750.
  • Oppenheimer analyst Jason Helfstein maintains Alphabet with an Outperform and raises the price target from $2350 to $2510.
  • JMP Securities analyst Ronald Josey maintains Alphabet with a Market Outperform and raises the price target from $2400 to $2850.
  • Wells Fargo analyst Brian Fitzgerald maintains Alphabet with an Overweight and raises the price target from $2650 to $2850.
  • Credit Suisse analyst Stephen Ju maintains Alphabet with an Outperform and raises the price target from $2500 to $2755.
  • Mizuho analyst James Lee maintains Alphabet with a Buy and raises the price target from $2600 to $2800.

Alphabet is a holding company, with Google, the Internet media giant, as a wholly-owned subsidiary. Google generates a majority of Alphabet revenue, of which around 85% is from online ads.

Google's other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue. Sales of hardware such as Chromebooks, the Pixel smartphone, and smart homes products, which include Nest and Google Home also contribute to other revenue. 
Investors looking for exposure to Alphabet via an ETF should know the FAANG company can be found in the SPDR S&P 500 ETF Trust (NASDAQ:SPY), Invesco QQQ Trust Series 1 (NASDAQ:QQQ) and ProShares UltraPro S&P500 (NASDAQ:UPRO).

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

Stocks That Hit 52-Week Highs On Wednesday

    This morning 122 companies reached new 52-week highs. read more

Why AMD's Stock Is Trading Higher Today

Advanced Micro Devices, Inc. (NASDAQ: AMD) shares are trading higher after the company, and Google Cloud, announced T2D, the first instance in the new family of Tau Virtual Machines powered by 3rd Gen AMD EPYC processors. read more

Stocks That Hit 52-Week Highs On Tuesday

    Before 10 a.m. ET on Tuesday, 125 stocks hit new 52-week highs. read more

Stocks That Hit 52-Week Highs On Friday

    During Friday's morning session, 236 stocks hit new 52-week highs. read more