BofA has increased its price target for Alphabet (GOOG, Financial), moving it up to $210 from the previous $200, while maintaining a Buy rating on the stock. This adjustment comes ahead of Alphabet’s upcoming second-quarter earnings report on July 23. Recent checks indicate that spending growth in the quarter showed improvement as it progressed, prompting the firm to slightly raise its above-market expectations. BofA now anticipates Alphabet’s third-quarter revenue to hit $81 billion, with earnings per share at $2.21, compared to the market consensus of $79.5 billion in revenue and $2.15 EPS.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Alphabet Inc (GOOG, Financial) is $203.00 with a high estimate of $225.00 and a low estimate of $185.00. The average target implies an upside of 9.91% from the current price of $184.70. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Alphabet Inc's (GOOG, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alphabet Inc (GOOG, Financial) in one year is $200.49, suggesting a upside of 8.55% from the current price of $184.7. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alphabet Inc (GOOG) Summary page.
