Guggenheim has increased its price target for Alphabet (GOOG, Financial) to $210 from $190, maintaining a Buy rating on the stock in anticipation of the second-quarter earnings report. This adjustment is based on a modest 1% rise in the firm's overall revenue outlook. The updated forecast factors in positive advertiser trends observed during the quarter and a favorable foreign exchange impact due to a weaker U.S. dollar.
The firm anticipates that Alphabet’s revenue growth will surpass market expectations, with significant contributions from a double-digit rise in the Search and Other segments. These insights were shared with investors as part of a recent preview.
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 $205.78 with a high estimate of $240.00 and a low estimate of $185.00. The average target implies an upside of 7.11% from the current price of $192.11. 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 $200.07, suggesting a upside of 4.14% from the current price of $192.11. 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.
