Jefferies Financial Group Adjusts Price Target for Alphabet to $200.00

Alphabet (NASDAQ:GOOGL) recently received a downgrade in its price target from Jefferies Financial Group, which lowered their projection from $235.00 to $200.00, as noted in a report released on Monday. The firm continues to maintain a "buy" rating on the tech giant's stock. This new target price suggests a potential upside of about 29.59% based on the current market price of Alphabet.

Analyst Insights

Other analysts have also shared their perspectives on Alphabet. Roth MKM reiterated a "buy" rating while setting a target price of $220.00 on March 19th. DZ Bank adjusted their rating for Alphabet from "buy" to "hold" with a target set at $198.00 on February 6th. Additionally, Cantor Fitzgerald confirmed a "neutral" rating with a price target of $200.00, and Robert W. Baird maintained an "outperform" rating with a $205.00 target in December. The Goldman Sachs Group, another player in the analysis space, also restated a "buy" rating, providing a price objective of $210.00. Overall, research shows that out of the analysts covering the stock, ten have rated it as a hold, twenty-nine as a buy, and four as a strong buy. Presently, Alphabet holds a consensus rating of "Moderate Buy" with an average price target of $210.08.

Current Market Performance

As of recently, Alphabet's shares were priced at $154.33, reflecting a decrease of 4.9%. The company holds a robust market capitalization of $1.88 trillion, and its financial metrics display a price-to-earnings (P/E) ratio of 19.17, a PEG ratio of 1.34, and a beta of 1.02. Over the past year, Alphabet has experienced a low of $147.22 and a high of $207.05.

Financial Overview

In its last quarterly earnings report released on February 4th, Alphabet reported earnings per share (EPS) of $2.15, exceeding analysts' expectations of $2.12. The company maintains a strong net margin of 28.60% and a return on equity of 32.49%. Looking ahead, analysts predict that Alphabet will achieve an EPS of 8.9 for the current fiscal year.

Insider Transactions

On a different note, insider activity at Alphabet indicates that CAO Amie Thuener O'Toole sold 1,368 shares on January 2nd at an average price of $191.55, amounting to approximately $262,040. Following this sale, the CAO retained 20,681 shares valued at roughly $3.96 million. Director Kavitark Ram Shriram also sold 29,066 shares on February 18th at an average price of $184.89, totaling about $5.37 million. Following these transactions, the director holds 272,466 shares worth around $50.38 million. The recent insider sales reflect a trend of reduced holdings, as insiders sold a total of 87,992 shares worth nearly $16.1 million over the last quarter, with corporate insiders now owning 11.55% of the company's stock.

Institutional Insights

Recent institutional trading reveals that several investors have adjusted their holdings in Alphabet. Compass Planning Associates Inc made a new purchase during the 4th quarter, while LMR Partners LLP acquired shares in the 3rd quarter. E Fund Management Hong Kong Co. Ltd grew its position significantly by 518.8% in the 4th quarter, now holding 198 shares valued at $37,000. Other investors like Fiduciary Advisors Inc. and PayPay Securities Corp also increased their stakes recently. Notably, hedge funds and institutional investors collectively hold 40.03% of the company's shares.

About Alphabet Inc.

Alphabet Inc. is a leading global technology company that offers various products and services through its segments: Google Services, Google Cloud, and Other Bets. Key services include search, advertising, and platforms like YouTube, Google Maps, and Google Drive, catering to a diverse international clientele.

Alphabet, Stock, Jefferies