Alphabet (NASDAQ:GOOGL) has been assigned a $1,370.00 price target by stock analysts at Oppenheimer in a research note issued to investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Oppenheimer’s price target points to a potential upside of 10.44% from the company’s current price.

Several other research analysts have also recently commented on the stock. JMP Securities reiterated an “outperform” rating and set a $1,375.00 price target (up previously from $1,300.00) on shares of Alphabet in a report on Tuesday, April 30th. BMO Capital Markets set a $216.00 price target on shares of Stryker and gave the stock a “hold” rating in a report on Friday. BidaskClub cut shares of Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 13th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Finally, Bank of America lowered their price target on shares of ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $1,368.76.

Shares of GOOGL stock opened at $1,240.52 on Friday. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $864.49 billion, a PE ratio of 26.11, a P/E/G ratio of 1.47 and a beta of 0.96. The company has a 50 day simple moving average of $1,116.09. Alphabet has a fifty-two week low of $977.66 and a fifty-two week high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The firm had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Equities analysts forecast that Alphabet will post 48.43 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in GOOGL. Belvedere Advisors LLC purchased a new position in Alphabet during the 1st quarter worth $38,000. Thor Advisors LLC purchased a new position in Alphabet during the 1st quarter worth $45,000. Lipe & Dalton acquired a new position in shares of Alphabet during the 2nd quarter worth $49,000. JJJ Advisors Inc. grew its stake in shares of Alphabet by 204.8% during the 2nd quarter. JJJ Advisors Inc. now owns 64 shares of the information services provider’s stock worth $69,000 after purchasing an additional 43 shares during the period. Finally, Lavaca Capital LLC acquired a new position in shares of Alphabet during the 4th quarter worth $97,000. Hedge funds and other institutional investors own 33.93% of the company’s stock.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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