Cantor Fitzgerald Cuts Alphabet (NASDAQ:GOOGL) Price Target to $210.00

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price target lowered by investment analysts at Cantor Fitzgerald from $215.00 to $210.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a "neutral" rating on the information services provider's stock. Cantor Fitzgerald's target price would indicate a potential upside of 5.86% from the stock's previous close. Cantor Fitzgerald also issued estimates for Alphabet's FY2025 earnings at $9.05 EPS.

A number of other research analysts also recently issued reports on the company. Piper Sandler restated an "overweight" rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. KeyCorp upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an "overweight" rating in a report on Friday, January 10th. Roth Mkm increased their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their target price on Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.67.

Alphabet Price Performance

Shares of GOOGL traded up $0.32 during midday trading on Wednesday, reaching $198.37. The stock had a trading volume of 26,169,027 shares, compared to its average volume of 23,769,740. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The company's 50-day moving average is $185.07 and its 200 day moving average is $173.38. Alphabet has a 12-month low of $130.66 and a 12-month high of $202.29.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business posted $1.55 EPS. On average, equities analysts predict that Alphabet will post 8.03 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company's stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock valued at $24,368,654 in the last ninety days. Corporate insiders own 11.55% of the company's stock.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the business. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Denver PWM LLC increased its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after purchasing an additional 57 shares during the period. Quarry LP bought a new stake in Alphabet during the 2nd quarter valued at $53,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Alphabet in the 3rd quarter worth $66,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.