Stifel Nicolaus Reaffirms Their Buy Rating on Alphabet (GOOGL)

By Carrie Williams

Stifel Nicolaus analyst Scott Devitt reiterated a Buy rating on Alphabet (GOOGLResearch Report) today and set a price target of $1525.00. The company’s shares closed last Monday at $1470.84, close to its 52-week high of $1500.58.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 20.6% and a 67.9% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Mercadolibre.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alphabet with a $1497.55 average price target, implying a 0.3% upside from current levels. In a report issued on January 13, Evercore ISI also maintained a Buy rating on the stock with a $1600.00 price target.

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Based on Alphabet’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $40.38 billion and net profit of $7.07 billion. In comparison, last year the company earned revenue of $39.15 billion and had a net profit of $8.95 billion.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GOOGL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.