Key Highlights:
- Waymo, Google's self-driving arm, to commence mapping in New York City, aiming for robotaxi readiness.
- Analysts predict a growth of 13.96% in Alphabet's (GOOG, Financial) stock over the next year, with a "Outperform" rating.
- GuruFocus forecasts an estimated 12.98% upside for GOOG based on GF Value metrics.
Waymo's Ambitious Expansion Plans
Waymo, a division of Alphabet (GOOG), is gearing up to map the streets of New York City starting next month by utilizing driver-assisted technology. This initiative paves the way for the eventual launch of driverless robotaxis. Despite existing regulatory obstacles, Waymo's market expansion could significantly alter the landscape for rideshare behemoths like Lyft (LYFT) and Uber (UBER) as we approach 2030.
Wall Street Analysts' Predictions
According to insights from 18 analysts covering Alphabet Inc (GOOG, Financial), the average price target is positioned at $201.56, ranging from a high of $225.00 to a low of $185.00. This suggests a potential upside of 13.96% from the current stock price of $176.87. For further insights, visit the Alphabet Inc (GOOG) Forecast page.
The collective recommendation from 22 brokerage firms rates Alphabet Inc (GOOG, Financial) at an average of 1.6, denoting an "Outperform" status. The scale used spans from 1 to 5, with 1 indicating a Strong Buy and 5 indicating a Sell.
Evaluating Alphabet's Value
GuruFocus's estimates suggest a GF Value for Alphabet Inc (GOOG, Financial) of $199.83 within the next year. This indicates an upside of 12.98% from the current trading price of $176.87. GF Value reflects what GuruFocus deems as the fair stock price based on historical trading multiples, past business growth, and future performance forecasts. Discover more detailed analytics on the Alphabet Inc (GOOG) Summary page.
