On Wednesday, December 21st, Evercore ISI released a research report on Google Inc. and maintained the stock’s “Outperform” rating, and lowered the 12-month Alphabet stock price target to $120 from $130.
STA Research maintained its Buy rating on the stock, with a $130 Alphabet stock price target.
Alphabet Stock Price Forecast:
The average analyst target price for Alphabet Inc Class A (GOOGL:NSD) over the next 12 months is USD 134.78, according to 33 analysts’ predictions for the Alphabet Inc Class A stock.
The typical analyst recommendation for Alphabet Inc Class A is a Strong Buy. Alphabet Inc. Class A’s stock analysis by Stock Target Advisor is Bullish and is based on 9 positive and 3 negative signals. Alphabet stock price was USD 89.02 at the most recent closing.
The stock price of Alphabet Inc Class A has changed by -6.91% over the previous week, -8.63% over the previous month, and -37.14% over the previous year.
The Crowd Rating on the stock is a Strong Buy, with an alphabet stock price target of $134.
Alphabet Inc. News:
A former executive of the failed cryptocurrency lender BlockFi has joined Google to work on Web3.
According to sources, Mitesh Agarwal, a managing director at Google who focuses on its cloud service customers, partner engineering, and a Web3-related initiative, Rishi Ramchandani, who served as BlockFi’s vice president for Asia from June 2020 through this month, will take over as APAC Web3 Lead at Google Inc.
By facilitating the development, transactions, storage, and deployment of new products, Google Cloud seeks to assist the Web3 ecosystem, which includes businesses wanting to develop new web uses and apps using blockchain technology, a spokesman stated via email last month.
Leading bitcoin and Web3 companies like Coinbase Global Inc. (COIN:NSD), Dapper Labs Inc., Sky Mavis Inc., Nansen, and Hedera are among its clients, the representative added.
Following the swift demise of the crypto exchange FTX and trading firm Alameda Research, BlockFi declared bankruptcy last month. Prior to that happening, it sold around $239 million worth of cryptocurrency and informed about 250 employees that their jobs would be lost.
BlockFi will attempt to recover the $680 million it is owed by a portion of Bankman-bankrupt Fried’s crypto industry, according to a lawyer for the company.
Company Profile:
In the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America, Alphabet Inc. offers a variety of products and platforms.
It functions through the categories of Google Services, Google Cloud, and Other Bets. Ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube are all available through the Google Services division.
Along with Fitbit wearables, Google Nest smart home products, Pixel phones, and other gadgets, it is also involved in the sale of apps, in-app purchases, and digital content through the Google Play store.
It also offers YouTube non-advertising services. The Google Cloud division provides infrastructure, platform, and other services, as well as other services for business clients.
Google Workspace includes cloud-based collaboration tools for businesses like Gmail, Docs, Drive, Calendar, and Meet. Internet services and health technology are sold in the Other Bets section.
Mountain View, California serves as the company’s corporate headquarters. It was established in 1998.
