Analyst Coverage
Morningstar (RANK#139), a leading investment research firm, has maintained its Buy rating on Alphabet Inc’s stock and set a 12-month target price of $154 per share. This rating and target price suggest that Morningstar believes the stock is undervalued and has significant upside potential.
Morningstar’s positive outlook on Google is based on several factors, including the company’s dominant position in the search engine market, its strong brand, and its growing presence in the cloud computing and advertising industries. The firm also notes that Google has a history of generating strong cash flows, which it has used to fund research and development and make strategic acquisitions.
In addition to these strengths, Morningstar is optimistic about Alphabet’s prospects for growth in emerging markets, particularly in Asia, where the company has made significant investments in recent years. The firm also believes that Google’s recent acquisitions, such as Fitbit and Looker, will help the company to expand its capabilities in areas such as health and data analytics.
Morningstar’s “Buy” rating and $154 target price for Google’s stock forecast, indicate that the firm sees significant long-term potential in the company’s stock.
GOOGL Forecast & Analysis
Alphabet Inc. is a technology conglomerate that owns several businesses, including Google, YouTube, and Waymo. The average analyst target price for Alphabet Inc. Class A stock is USD 129.85 over the next 12 months, which indicates that the stock is expected to rise significantly in the coming year. The average analyst rating of “Strong Buy” suggests that analysts are optimistic about the company’s future prospects and believe that it is a good investment opportunity.
Stock Target Advisor, which provides its own analysis of the stock, is also bullish about Alphabet Inc. Class A stock. They have given the stock a “Very Bullish” rating based on 9 positive signals and 3 negative signals. This indicates that the overall sentiment among investors is positive and that the stock has a lot of potential for growth.
Despite these positive signals, the stock price has decreased in recent times. Over the past week, the stock price has decreased by -3.22%, and over the past month, it has decreased by -4.17%. Over the last year, the stock price has dropped significantly, decreasing by -30.22%. At the last closing, the stock price was USD 90.63. This suggests that the market has been bearish on the stock for some time, and investors may be concerned about Alphabet Inc.’s ability to continue growing and generating revenue.
