The company is expected to report EPS of $12.76, down from $12.77 in the same quarter of last year, while revenue could hit $38.4 billion. Alphabet has recently become the fourth U.S company to reach 1 trillion dollars in market value.
Over the past 12 months, shares are up 35.6%, in comparison to the S&P 500 index gain of 24%. Both Google and YouTube were Alphabet’s biggest revenue drivers, adding $28.6 billion last quarter, a year-over-year increase of 19%. The net ad revenue from YouTube is forecasted to grow 20% this year, to $11.38 billion worldwide. The Google Cloud project is seen as the primary driver of Cloud performance due to strong customer demand for data analytics products.
Mizuho and Aegis Capital reiterated their Buy rating on Google, with price targets of $1450 - $1650 and $1425 - $1800 respectively. Average analyst target price on TipRanks.com sees the stock at $1,554.88 +8.52% increase from the last price of $1,432.78. The high forecast is $1800, a 20.40% increase.
Sources: marketwatch.com, alphastreet.com, investing.com, finviz.com, tipranks.com
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