Piper Sandler Adjusts Alphabet's Stock Price Expectations

Piper Sandler has recently made a revision to its price target for Alphabet Inc. (NASDAQ:GOOGL – Get Free Report), lowering it from $210.00 to $208.00, as reported in a research note published on Wednesday. The firm maintains an "overweight" rating on Alphabet's stock, indicating that they expect positive performance in the future. This updated target price implies a potential upside of roughly 8.56% based on Alphabet's current stock price.

Several other analysts have also provided insights into Alphabet’s stock. For instance, on January 2, Citizens JMP downgraded Alphabet from a "strong-buy" rating to a "hold" rating. Meanwhile, Truist Financial raised their price target for Alphabet from $220.00 to $225.00 and maintains a "buy" rating on the stock as of October 30. Scotiabank upgraded Alphabet to a "strong-buy" in their report dated October 11. Further, Stifel Nicolaus increased their price estimation for shares of Alphabet from $200.00 to $225.00 on January 13, classifying it as a "buy". DA Davidson also revised its price objective from $190.00 to $200.00, labeling it as a "neutral" rating on January 24. Overall, research analysts show significant confidence in Alphabet, with ten giving it a hold rating, twenty-nine a buy rating, and four a strong buy rating. Market data indicates that Alphabet has an average rating of "Moderate Buy" with a mean price target of $210.62.

Current Market Position

On the market, shares of GOOGL opened at $191.60. The company's market capitalization stands at approximately $2.35 trillion. Financial metrics indicate a PE ratio of 25.41 and a price-to-earnings-growth ratio of 1.31. With a beta of 0.99, Alphabet's stock volatility closely mirrors the market average. The stock has experienced a 52-week low of $130.66 and a high of $207.05. The fifty-day moving average is $190.83, while the two-hundred day moving average is $174.52. Additionally, Alphabet showcases strong liquidity with a quick ratio and current ratio both at 1.95, and an impressive debt-to-equity ratio of just 0.04.

Earnings Report Insights

Alphabet recently reported its quarterly earnings on February 4, revealing an earnings per share (EPS) of $2.15, surpassing analysts' expectations of $2.12 by a margin of $0.03. The company demonstrated a solid net margin of 27.74% and a return on equity (ROE) of 31.66%. Forecasts show that Alphabet is expected to achieve an EPS of 8.02 for the current fiscal year.

Insider Activity

Recent insider transactions at Alphabet indicate mixed activity. Chief Accounting Officer Amie Thuener O’toole sold 1,367 shares on December 2 at an average price of $170.41, totaling $232,950.47. This sale decreased her holdings by 5.49%. In another transaction on November 20, CEO Sundar Pichai sold 22,500 shares at an average price of $176.67 for a total of $3,975,075.00, a 1.08% reduction in his share ownership, leaving him with 2,061,806 shares valued at $364,259,266.02. In total, insiders have sold 89,529 shares valued at around $16,600,078 over the past ninety days, and currently, insiders control about 11.55% of the total stock.

Institutional Investor Activities

Recent activity among large institutional investors shows changes in their holdings of Alphabet stock. Maverick Capital Ltd. acquired a new stake during the second quarter, investing approximately $2,038,000. Matrix Private Capital Group LLC increased their holdings by 3.9%, now owning 6,046 shares valued at $1,101,000. Makena Capital Management LLC reported a 31.6% increase in its holdings, totaling 91,520 shares worth $16,670,000, after acquiring an additional 21,997 shares last quarter. Mackenzie Financial Corp also saw its stake grow by 14.6%, now owning 7,660,106 shares valued at $1,395,288,000, following an increase of 975,341 shares during the second quarter. Finally, Lighthouse Investment Partners LLC has recently taken a new position in shares of Alphabet valued at $610,000. Collectively, institutional investors and hedge funds represent 40.03% of Alphabet's total stock ownership.

About Alphabet Inc.

Alphabet Inc. operates various products and platforms worldwide. The company runs through segments including Google Services, Google Cloud, and Other Bets. The Google Services segment covers a range of products and services, such as ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Alphabet, Stock, Market