Wall Street analysts expect Alphabet Inc (NASDAQ:GOOGL) to report sales of $31.26 billion for the current quarter, according to Zacks. Thirteen analysts have issued estimates for Alphabet’s earnings, with estimates ranging from $30.45 billion to $31.81 billion. Alphabet posted sales of $25.87 billion during the same quarter last year, which suggests a positive year over year growth rate of 20.8%. The company is expected to announce its next earnings report on Thursday, February 7th.
On average, analysts expect that Alphabet will report full year sales of $109.51 billion for the current fiscal year, with estimates ranging from $108.70 billion to $110.07 billion. For the next fiscal year, analysts anticipate that the company will post sales of $131.85 billion, with estimates ranging from $127.25 billion to $154.22 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Alphabet.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $10.54 by $2.52. The company had revenue of $27.16 billion for the quarter, compared to analyst estimates of $27.32 billion. Alphabet had a return on equity of 19.40% and a net margin of 14.45%.
GOOGL has been the topic of a number of analyst reports. Wells Fargo & Co reaffirmed an “outperform” rating and set a $1,400.00 price objective (up previously from $1,275.00) on shares of Alphabet in a research note on Tuesday, July 24th. B. Riley increased their price objective on Alphabet from $1,350.00 to $1,475.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Wedbush assumed coverage on Alphabet in a research note on Wednesday, October 17th. They set an “outperform” rating and a $1,350.00 price objective on the stock. Zacks Investment Research upgraded Alphabet from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $1,375.00 target price (up from $1,330.00) on shares of Alphabet in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $1,333.29.
Shares of GOOGL traded down $3.05 during trading hours on Tuesday, reaching $1,068.00. 102,586 shares of the company traded hands, compared to its average volume of 2,394,621. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. The firm has a market cap of $729.26 billion, a P/E ratio of 33.33, a PEG ratio of 1.28 and a beta of 1.06. Alphabet has a fifty-two week low of $984.00 and a fifty-two week high of $1,291.44.
Several institutional investors and hedge funds have recently modified their holdings of the company. New England Research & Management Inc. lifted its holdings in shares of Alphabet by 87.3% in the 2nd quarter. New England Research & Management Inc. now owns 751 shares of the information services provider’s stock worth $848,000 after purchasing an additional 350 shares during the last quarter. Pegasus Partners Ltd. lifted its holdings in shares of Alphabet by 18.5% in the 2nd quarter. Pegasus Partners Ltd. now owns 468 shares of the information services provider’s stock worth $528,000 after purchasing an additional 73 shares during the last quarter. Swarthmore Group Inc. lifted its holdings in shares of Alphabet by 6.3% in the 2nd quarter. Swarthmore Group Inc. now owns 8,050 shares of the information services provider’s stock worth $9,090,000 after purchasing an additional 475 shares during the last quarter. Windward Capital Management Co. CA raised its stake in Alphabet by 0.4% during the 2nd quarter. Windward Capital Management Co. CA now owns 19,540 shares of the information services provider’s stock valued at $22,065,000 after acquiring an additional 71 shares in the last quarter. Finally, Fosun International Ltd raised its stake in Alphabet by 78.9% during the 1st quarter. Fosun International Ltd now owns 5,690 shares of the information services provider’s stock valued at $5,901,000 after acquiring an additional 2,509 shares in the last quarter. Institutional investors own 33.42% of the company’s stock.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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