On Monday, Alphabet shares got a price-target increase from analysts at J.P. Morgan, based on fundamentals.
J.P. Morgan analyst Doug Anmuth raised his price target on the tech behemoth’s shares to $2,575 from $2,390. Anmuth affirmed his overweight rating on the shares.
Anmuth mentioned that Alphabet is well positioned across ads, clouds, and a number of other key initiatives to both drive and benefit from long-term digital trends. The analyst cited “attractive combination of top-line scale, growth and margins” as factors bolstering the view that valuation is attractive at 27 times the analyst’s 2022 estimated Alphabet GAAP earnings per share, or 22 times 2022 estimated GAAP earnings per share excluding cash and other bets.
According to Anmuth team’s valuation analysis, Alphabet has a market capitalization approaching $2 trillion, or $2,857 per share, which is 25% above where the shares currently trade.
GOOGL saw its Momentum Indicator move above the 0 level on May 05, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 89 similar instances where the indicator turned positive. In of the 89 cases, the stock moved higher in the following days. The odds of a move higher are at .
The 50-day moving average for GOOGL moved above the 200-day moving average on May 03, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GOOGL advanced for three days, in of 341 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 328 cases where GOOGL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The 10-day RSI Indicator for GOOGL moved out of overbought territory on May 30, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 46 similar instances where the indicator moved out of overbought territory. In of the 46 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 71 cases where GOOGL's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for GOOGL turned negative on June 02, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 53 similar instances when the indicator turned negative. In of the 53 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GOOGL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
GOOGL broke above its upper Bollinger Band on May 10, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 93, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. GOOGL’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.020) is normal, around the industry mean (21.632). P/E Ratio (27.473) is within average values for comparable stocks, (40.922). Projected Growth (PEG Ratio) (1.535) is also within normal values, averaging (3.156). Dividend Yield (0.000) settles around the average of (0.023) among similar stocks. P/S Ratio (5.663) is also within normal values, averaging (10.066).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a holding company with interests in software, health care, transportation and other technologies
A.I.dvisor indicates that over the last year, GOOGL has been closely correlated with GOOG. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if GOOGL jumps, then GOOG could also see price increases.
|GOOG - GOOGL|
|SPOT - GOOGL|
|META - GOOGL|
|PINS - GOOGL|
|ZG - GOOGL|