Alphabet (GOOG, $2,756.32) stock jumps, on target hike at Credit Suisse
Alphabet shares climbed on Friday, following price target hikes at Credit Suisse, ahead of second quarter earnings release next week.
Credit Suisse analyst Stephen Ju boosted his price target on the Google-parent’s shares by 21.5% to $3,350 per share. Ju mentioned the impact of new product launches that will increase the company’s total addressable advertisement market to around $3 trillion on the back of a strategy that targets both larger and small-to-medium sized businesses with real-time inventory listings that can link to its search and map features. The analyst has an outperform rating on the stock.
Credit Suisse expects Alphabet to generate revenue growth rates of 41% for YouTube and 30% for the entire Google ad business in 2021. However, it also suggests that traffic acquisition costs are likely to be higher, due to Alphabet's increased payments to YouTube content providers among other factors.
GOOG's Stochastic Oscillator stays in oversold zone for 7 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
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Notable companies
The most notable companies in this group are Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), Spotify Technology SA (NYSE:SPOT), Baidu (NASDAQ:BIDU), Pinterest (NYSE:PINS), Tencent Music Entertainment Group (NYSE:TME), Snap (NYSE:SNAP), Twilio (NYSE:TWLO), Zillow Group (NASDAQ:Z).
Industry description
Companies in this industry typically license software on a subscription basis and it is centrally hosted. Such products usually go by the names web-based software, on-demand software and hosted software. Cloud computing has emerged as a major force in this space, making it possible to save files to a remote database (without requiring them to be saved on local storage device); as long as a device has access to the web, it can access the data and the software programs to run it. This has in many cases facilitated cost efficiency, speed and security of data for businesses and consumers. Alphabet Inc., Facebook, Inc. and Yahoo! Inc. are some well-known names in the internet software/services industry.
Market Cap
The average market capitalization across the Internet Software/Services Industry is 60.93B. The market cap for tickers in the group ranges from 1.11K to 1.94T. GOOGL holds the highest valuation in this group at 1.94T. The lowest valued company is MSEZ at 1.11K.
High and low price notable news
The average weekly price growth across all stocks in the Internet Software/Services Industry was -1%. For the same Industry, the average monthly price growth was -0%, and the average quarterly price growth was 2%. TRFE experienced the highest price growth at 53%, while QQQFF experienced the biggest fall at -58%.
Volume
The average weekly volume growth across all stocks in the Internet Software/Services Industry was 15%. For the same stocks of the Industry, the average monthly volume growth was 9% and the average quarterly volume growth was -8%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 45
P/E Growth Rating: 72
Price Growth Rating: 59
SMR Rating: 84
Profit Risk Rating: 92
Seasonality Score: -6 (-100 ... +100)