Notable Price Action: Alphabet Inc Just Reaches 52-Week High?

Notable Price Action: Alphabet Inc Just Reaches 52 Week High?

The stock of Alphabet Inc (NASDAQ:GOOGL) hit a new 52-week high and has $1059.84 target or 28.00% above today’s $828.00 share price. The 5 months bullish chart indicates low risk for the $570.15 billion company. The 1-year high was reported on Oct, 19 by If the $1059.84 price target is reached, the company will be worth $159.64B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.04 million shares traded hands. Alphabet Inc (NASDAQ:GOOGL) has risen 8.47% since March 16, 2016 and is uptrending. It has outperformed by 2.92% the S&P500.

Analysts await Alphabet Inc (NASDAQ:GOOGL) to report earnings on October, 27. They expect $6.64 earnings per share, up 15.88% or $0.91 from last year’s $5.73 per share. GOOGL’s profit will be $4.57B for 31.17 P/E if the $6.64 EPS becomes a reality. After $7.00 actual earnings per share reported by Alphabet Inc for the previous quarter, Wall Street now forecasts -5.14% negative EPS growth.

Alphabet Inc (NASDAQ:GOOGL) Ratings Coverage

Out of 38 analysts covering Google (NASDAQ:GOOGL), 36 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 95% are positive. Google has been the topic of 79 analyst reports since August 8, 2015 according to StockzIntelligence Inc. The stock of Alphabet Inc (NASDAQ:GOOGL) has “Top Pick” rating given on Wednesday, December 9 by Nomura. The company was maintained on Friday, October 23 by RBC Capital Markets. The rating was maintained by Credit Suisse on Tuesday, January 12 with “Outperform”. The rating was maintained by Argus Research on Monday, October 26 with “Buy”. The rating was maintained by JMP Securities with “Mkt Outperform” on Monday, September 21. The firm has “Outperform” rating by FBR Capital given on Tuesday, February 2. Axiom Capital maintained the shares of GOOGL in a report on Monday, December 28 with “Buy” rating. The firm earned “Buy” rating on Friday, October 23 by Stifel Nicolaus. The stock has “Buy” rating given by Oppenheimer on Saturday, August 8. The firm has “Buy” rating given on Friday, October 23 by UBS.

According to Zacks Investment Research, “Alphabet Inc. is engaged in technology business. The Company provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce and hardware products through its subsidiaries. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California.”

More notable recent Alphabet Inc (NASDAQ:GOOGL) news were published by: which released: “Go Long Alphabet Inc (GOOG, GOOGL) Stock For the Best Price — Free” on October 18, 2016, also with their article: “Alphabet Inc. Earnings: Mark Your Calendar” published on October 10, 2016, published: “GOOG Stock: Alphabet Inc. Delivering Ambitious Moves” on October 07, 2016. More interesting news about Alphabet Inc (NASDAQ:GOOGL) were released by: and their article: “Exclusive: Head of Google drone initiative leaving Alphabet” published on October 18, 2016 as well as‘s news article titled: “New Products Point to Increasingly Diverse Opportunities for Alphabet Inc” with publication date: October 06, 2016.

GOOGL Company Profile

Alphabet Inc., incorporated on July 23, 2015, is a holding company. The Firm holds interests in Google Inc. (Google). The Company’s divisions include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company. The Company’s technical infrastructure and Virtual Reality are also included in Google segment. Google segment is engaged in advertising, sales of digital content, applications and cloud services, as well as sale of Google branded hardware. The Other Bets segment consists of various operating divisions and includes businesses, such as Access/Google Fiber, Calico, Nest, Verily, GV, Google Capital, X and other initiatives. Other Bets segment is engaged in the sale of Nest hardware products, Internet and television services through Google Fiber, and licensing and research and development (R&D) services through Verily. Google offers products, including Gmail, which is an e-mail service; Chrome, which is a browser, and Google Play, which allows access to movies, books, music and application on various devices. Google offers platforms, including Chrome OS and Android mobile operating system.

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