Monness analyst Brian White has maintained their neutral stance on GOOGL stock, giving a Hold rating today.
Brian White’s rating is based on a combination of factors that reflect both the strengths and challenges faced by Alphabet. On the positive side, Alphabet has demonstrated steady growth with a notable increase in sales and operating income, surpassing both internal and street estimates. The company also announced a significant $70 billion stock repurchase program and increased its quarterly dividend, signaling confidence in its financial health and future prospects.
However, there are areas of concern that justify a Hold rating. Despite the overall growth, Alphabet’s advertising revenue fell short of expectations, and there was a deceleration in Google Cloud’s growth. Additionally, the company faces a challenging antitrust environment and increasing competition, which could impact its future performance. These mixed signals suggest a cautious approach, leading to the Hold recommendation by Brian White.
According to TipRanks, White is a top 100 analyst with an average return of 17.1% and a 64.12% success rate. White covers the Technology sector, focusing on stocks such as Apple, Oracle, and Salesforce.
In another report released today, Rosenblatt Securities also maintained a Hold rating on the stock with a $189.00 price target.