Alphabet Stock Dips Despite Strong Earnings
Alphabet, the parent company of Google, has reported strong earnings, yet its stock market fell in after-hours trading. The company beat analyst expectations on both earnings and revenue, but profit-taking caused a two percent dip. Despite this, investment firms like Goldman Sachs have raised their price targets, indicating potential upside.
Alphabet reported earnings per share of $1.89, four cents higher than expected, with revenue reaching $84.7 billion, also surpassing forecasts. However, YouTube ad sales of $8.66 billion missed expectations by $290 million. Following the results, the stock market initially fell by two percent in after-hours trading due to profit-taking.
Analysts have responded positively to the results. The average price target for Alphabet stock market is now $229.50, a 5.77% decrease from the current price. However, the highest target stands at $315.00, indicating a potential upside of 29.34%. Most analysts recommend buying the stock market, projecting moderate gains in the coming weeks. BÖRSE ONLINE also recommends buying the stock market with a price target of 200 euros.
Despite the recent dip, analysts see an average of 6.8 percent upside for Alphabet's stock market. The chart suggests increased volatility in the coming days and weeks, presenting potential buying opportunities for investors. While the stock market's decline was likely due to profit-taking, the strong earnings and revenue numbers may indicate a positive outlook for the company.
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