Last Updated: 15 Oct 2024
Executive Summary
Alphabet Inc Class C (GOOG) is a leading technology company with a strong financial performance and a favorable long-term outlook. The company's revenue and earnings have grown steadily in recent quarters, and its profit margins are healthy. GOOG is also well-positioned to benefit from the continued growth of the digital advertising market.
Company Overview
Alphabet Inc is a multinational conglomerate headquartered in Mountain View, California. The company was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. Alphabet's businesses include search, advertising, cloud computing, hardware, and other ventures.
Fundamental Analysis
Revenue: GOOG's revenue has grown steadily in recent quarters. In the most recent quarter, the company reported revenue of $328.28 billion, up 13.6% year-over-year.
Earnings: GOOG's earnings have also grown steadily in recent quarters. In the most recent quarter, the company reported diluted EPS of $6.98, up 31.4% year-over-year.
Profitability: GOOG's profit margins are healthy. In the most recent quarter, the company reported a gross profit margin of 47.7% and an operating margin of 32.4%.
Balance Sheet: GOOG has a strong balance sheet with plenty of cash and equivalents. The company also has a low level of debt.
Technical Analysis
Trend: GOOG's stock price has been in an uptrend since early 2023. The stock is currently trading above its 50-day and 200-day moving averages.
Support and Resistance: The stock has support at $160 and resistance at $170.
Momentum: GOOG's stock has strong momentum, as indicated by the MACD and RSI indicators.
Short Term Outlook
GOOG's stock is expected to continue to perform well in the short term. The company's strong fundamentals and favorable technical outlook suggest that the stock could reach $170 in the next few months.
Long Term Outlook
GOOG's long-term outlook is also favorable. The company is well-positioned to benefit from the continued growth of the digital advertising market. GOOG's stock could reach $200 in the next few years.
Analyst Recommendations
The majority of analysts covering GOOG have a Buy or Strong Buy rating on the stock. The average analyst target price is $198.85.
